Wall Street's Mixed Day Amid AI, Crypto, and Tech Movement

Wall Street experienced a mixed trading day as Alphabet's dip impacted communication services, while Nvidia's strong results boosted its stock. Deere surpassed profit expectations, and crypto stocks surged with rising bitcoin prices. Weekly jobless claims decreased, hinting at potential job growth in November.

On Thursday, Wall Street's primary stock indices experienced a turbulent trading session. Alphabet's shares fell 4% after legal challenges from the Justice Department pressured the market. This downturn notably impacted the communication services sector, pulling it down by 2.2%.

Contrastingly, Nvidia shares climbed 1.3% reaching a record high due to strong quarterly results. Despite concerns over growth rate slowdowns, the semiconductor index rose by 0.8%. The company remains a significant driver of market rallies, leveraging expectations of AI-led profit boosts.

Additionally, Deere shares saw a 5.1% increase following strong fourth-quarter profits. Crypto stocks experienced notable gains as bitcoin prices approached $100,000. Economic glimpses suggested declining weekly jobless claims, indicating possible job growth in November, impacting Federal Reserve rate expectations.

(With inputs from agencies.)