The Dow Jones Industrial Average hit a record closing high on Wednesday.

Synopsis US stocks ended mixed as the Dow hit a record closing high driven by healthcare and consumer gains, while tech and chip stocks lagged. Banking shares fell after JPMorgan flagged higher expenses, and Zscaler dropped on weak guidance. Goldman Sachs raised its S&P 500 forecast to 8,000 amid strong earnings outlook. Rising healthcare and consumer stocks boosted the Dow Jones Industrial Average on Wednesday to a record closing high, while the S&P 500 and the Nasdaq were steady, as investors took a pause from the AI-led market rally while cautiously watching Middle East peace talks. Banking stocks were down as shares of JPMorgan Chase slid after CEO ‌Jamie Dimon warned ⁠that expenses ⁠this year could be $1 billion higher than estimated. S&P 500 Top Gainers MGM Resorts International42.25(9.88%) AppLovin562.33(9.35%) United Airlines Holdings112.66(6.36%) Norwegian Cruise Line18.16(6.17%) S&P 500 Top Losers Boston Scientific50.48(-12.43%) Coterra Energy32.56(-8.62%) Qualcomm231.25(-7.06%) Skyworks Solutions78.72(-5.63%) The White House denied reports from Iran's state TV that Tehran would restore Strait of Hormuz shipping within a month in exchange for a U.S. military pullback and the lifting of a naval blockade. Still, indexes traded near record highs. The Dow, which hit closing highs on Friday and Thursday, was lifted by a rotation into healthcare and consumer stocks such as Procter & Gamble . Live Events However, a pullback in chip stocks weighed on the tech-heavy Nasdaq. According to preliminary data, the S&P 500 gained 1.81 points, or 0.02%, to end at 7,520.93 points, while the Nasdaq Composite gained 18.55 points, or 0.08%, to 26,676.60. ⁠The Dow ‌Jones Industrial Average rose 189.08 points, or 0.37%, to 50,650.76. "After such a large run-up in the markets, it's not surprising to me that there is a little bit of a pause," said Sean Clark, chief investment ⁠officer of Clark Capital Management Group. "There's a lot of positives to look at right now. Even though the outperformers are really being driven by tech, AI and AI adjacent themes, I wouldn't discount the fact that the broad market is participating as well." Among the sub-indexes, consumer discretionary was leading the gains. Meanwhile, the S&P 500 energy index fell, tracking a decline of as much as 5% in oil prices. Tech shares dropped after reaching an all-time high on Tuesday. Chip stocks were down after a strong rally. Intel fell and Marvell Technology fell, while Qualcomm fell sharply after sharp gains Tuesday. Chip giant Nvidia weakened andthe Philadelphia SE Semiconductor index lost after hitting a record ‌high on Tuesday. "Technology leadership remains difficult to ignore, with the sector continuing to push to new highs on both an absolute and relative basis compared to the broader market," said Adam Turnquist, chief technical strategist, LPL Financial. "That said, increasingly stretched momentum conditions and elevated ⁠positioning raise questions around the near-term durability of the advance." Zscaler tumbled after the cloud security firm projected fourth-quarter revenue below expectations. Among other movers, GlobalFoundries fell after Bloomberg News reported that majority owner Mubadala Investment Company was seeking to raise $1.91 billion from an unregistered block sale of GFS shares. Bath & Body Works jumped after reporting first-quarter sales and profit above expectations, while Abercrombie & Fitch advanced on posting a strong quarterly profit. Goldman Sachs raised its 2026 year-end forecast for the S&P 500 to 8,000 from 7,600, citing continued strength in corporate earnings. Markets will next look toward the personal consumption expenditures index data on Thursday. The Federal Reserve's key inflation measure could provide fresh clues on the monetary policy path forward under new chair Kevin Warsh. (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless Down 30% in 1 year, are AI-hit Infy, TCS still value stocks? How practical is India’s latest investor protection framework? 3 years on, India rebuilds aircraft lessors’ trust that Go First broke Can a Rajan-style NRI dollar-deposit scheme save the rupee? As West Asia boils, will Dubai’s loss be a GIFT for India? Stock Radar: SAIL stock hits fresh record high in May; time to buy or book profits? 1 2 3

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