Dow, S&P 500, Nasdaq Mixed; Sandisk, Strategy, MP Materials, Nvidia, Tesla, and Other Movers
The Dow and S&P 500 are now headed for losses for the day.
The Dow is down 0.6% while the S&P 500 is down 0.02%. A day in the red would break their three-day winning streaks. The Nasdaq is showing no signs of relenting with a 0.4% gain for the day so far.
There was no major reason for the losses. That said, they have worsened since President Donald Trump mentioned defense contractors in a Truth Social post. He complained about defense companies using money to buy back their stocks and offering dividends or a portion of their profits to shareholders. He also criticized high compensation within the industry.
The Dow doesn’t hold big defense contractors such as Lockheed Martin and Northrop Grumman that do much of their business with the U.S. government. That said, Dow components Boeing and Honeywell have defense business units.
