Tech Outperforms as Retail and Staples Stumble
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BTCCSquare news:
U.S. equities showed divergent performance Thursday afternoon with tech stocks climbing while consumer staples lagged. The S&P 500 and Nasdaq edged up 0.1% as the Dow dipped marginally.
Dollar General surged 12% after posting strong quarterly results, mirroring Dollar Tree's positive earnings earlier this week. Meta Platforms gained 4% on reports of planned metaverse spending cuts.
Kroger fell 6% after missing sales expectations. Snowflake tumbled 11% on disappointing margin guidance, raising concerns about its AI investments. Intel dropped 6% as reports surfaced it may retain its networking division despite broader restructuring.
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