U.S. stocks ended mixed on Thursday, snapping a two-day rally, as shares of artificial intelligence (AI) chip giant Nvidia fell despite reporting strong quarterly results.
The Dow Jones Industrial Average rose 0.03 percent to 49,499.20. The S and P 500 sank 0.54 percent to 6,908.86. The Nasdaq Composite Index shed 1.18 percent to 22,878.38.
Seven of the 11 primary S and P 500 sectors ended in red, with technology and communication services leading the laggards by falling 1.81 percent and 0.75 percent, respectively. Meanwhile, financials and industrials led the gainers by rising 1.29 percent and 0.63 percent, respectively.
Nvidia declined by approximately 5.5 percent after the chipmaker reported a stellar quarter of profit growth, with its CEO Jensen Huang noting that customers are "racing to invest in AI."
The media and entertainment sector also saw notable movement.
Paramount Skydance stock surged 10.04 percent after reporting results, while Warner Bros. Discovery remained little changed.
Netflix, which is also seeking to purchase specific assets from Warner Bros. Discovery, gained 2.29 percent following media reports that its co-CEO was scheduled to visit the White House to discuss the potential acquisition.
On the economic front, the U.S. Department of Labor reported Thursday that initial claims for state unemployment benefits increased to 212,000 for the week ending on Feb. 21, up from 208,000 in the previous week but slightly below the 215,000 claims anticipated by economists.
U.S. stocks close mixed despite Nvidia's strong earnings
