Wall Street closed mixed on Thursday, with the Dow Jones Industrial Average rising 0.1% to 51,920.62, the Nasdaq Composite falling 0.5% to 25,358.6, and the S&P 500 remaining virtually flat at 7,357.49. Technology stocks weighed on the market as Apple tumbled 6.2% after announcing price increases for MacBook and iPad models, and Microsoft fell 3.5% after unveiling price hikes for Xbox consoles, overshadowing Micron Technology's 15.7% surge on strong earnings. The Fed's preferred inflation gauge, PCE inflation, climbed above 4% in May, reviving concerns about another interest-rate hike. In economic data, initial jobless claims fell to 215,000, durable goods orders dropped 4.5% in May, and the third estimate for first-quarter GDP was revised up to 2.1%.
Apple Inc.Apple announced price increases for MacBook and iPad models, causing shares to tumble 6.2%.
Microsoft CorporationMicrosoft unveiled price hikes for Xbox consoles, leading to a 3.5% decline.
Micron Technology IncMicron Technology surged 15.7% on strong earnings.