NEW YORK, Feb. 26 (Xinhua) -- U.S. stocks ended mixed on Wednesday, as investors awaited the upcoming earnings report from artificial intelligence leader Nvidia.
The Dow Jones Industrial Average fell by 188.04 points, or 0.43 percent, to 43,433.12. The S&P 500 added 0.81 points, or 0.01 percent, to 5,956.06, breaking a four-day losing streak. The Nasdaq Composite Index increased by 48.88 points, or 0.26 percent, to 19,075.26.
Seven of the 11 primary S&P 500 sectors ended in red, with consumer staples and health leading the laggards by dropping 1.86 percent and 0.69 percent, respectively. Meanwhile, technology and utilities led the gainers by adding 0.89 percent and 0.37 percent, respectively.
Nvidia was set to announce its fourth-quarter results after the closing bell, and these earnings could serve as a key catalyst for the market. Nvidia's stock had already risen more than 3 percent during the day.
This report comes at a critical juncture for Nvidia, as the emergence of DeepSeek has raised questions about the sustainability of the once-hot artificial intelligence trend. Not only is Nvidia showing signs of cooling -- its stock is down 2 percent in 2025 -- but other momentum plays in the sector are also beginning to lose their steam.
"Nvidia is the bellwether and market-darling stock that is of vital importance to the broader markets. Its performance provides meaningful guidance for the broader market tone. The importance for the tech sector cannot be understated," said SWBC chief investment officer Chris Brigati.
In economic news, the U.S. mortgage interest rates declined once again last week, reaching the lowest levels in two months. The drop in rates did not stimulate demand for mortgages; overall mortgage application volume fell 1.2 percent from the previous week, according to the seasonally adjusted index from the Mortgage Bankers Association (MBA).
"Treasury yields moved lower on softer consumer spending data as consumers are feeling somewhat less upbeat about the economy and job market. This pushed mortgage rates lower, with the 30-year fixed rate decreasing to 6.88 percent, the lowest rate since mid-December," said Joel Kan, MBA's vice president and deputy chief economist.
New home sales in the United States also plunged 10.5 percent to a seasonally adjusted annual rate of 657,000 units last month, the Commerce Department's Census Bureau said on Wednesday. The steep decline also likely reflected the impact of snowstorms and extremely cold weather in much of the country last month. Enditem
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