US stock markets finished mixed today as major indexes reacted to both economic data and investor anticipation over tomorrow’s Federal Reserve communication. The Dow Jones Industrial Average ended almost unchanged, rising just 10 points to finish near forty-four thousand nine hundred and twenty-two United States dollars. The Standard and Poor’s five hundred lost thirty-eight points, which is a decline of zero point six percent, closing close to six thousand four hundred and eleven United States dollars. The technology-focused Nasdaq Composite posted the steepest drop, tumbling three hundred and fifteen points, or about one and one half percent, to finish at twenty-one thousand three hundred and fourteen United States dollars, marking its largest single-day decline in August so far, according to Zacks and Nasdaq.

Technology shares drove today’s direction, as investors turned cautious ahead of Federal Reserve Chair Jerome Powell’s speech at the annual Jackson Hole symposium. Unease about lofty tech valuations, signs the artificial intelligence boom may be peaking, and a critical Massachusetts Institute of Technology study showing only about five percent of companies reporting meaningful gains from generative artificial intelligence projects encouraged broad selling in the sector. Palantir Technologies fell over nine percent, while Nvidia Corporation dropped three and one half percent, two of the top decliners and among the most actively traded stocks.

Despite tech weakness, eight of the eleven Standard and Poor’s sectors ended higher. Real estate, consumer staples, and utilities outperformed, gaining about one point eight percent, one percent, and zero point one percent, respectively. The technology sector was the clear laggard, declining one point eight percent. The Chicago Board Options Exchange Volatility Index, seen as Wall Street’s fear gauge, rose nearly four percent to fifteen point fifty-seven.

On the economic front, housing data came in mixed, with July building permits at one million three hundred and fifty-four thousand units and housing starts rising to one million four hundred and twenty-eight thousand units, their strongest mark in five months.

Looking forward, United States stock index futures were slightly lower earlier in the session, with the Nasdaq, Dow Jones, and Standard and Poor’s all down by about one quarter of one percent according to TipRanks. Tomorrow brings the Federal Reserve Chair’s Jackson Hole speech and the release of meeting minutes, both pivotal for interest rate expectations. Listeners should also watch for United States GDP data, jobless claims, and important corporate profit releases that could act as fresh catalysts.

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