Meta, Dollar General, Kroger, and More

Major U.S. equities indexes wavered between gains and losses Thursday afternoon, as tech stocks climbed but consumer staples stocks lost ground. The Dow Jones Industrial Average edged 0.1% lower in recent trading, while the S&P 500 and Nasdaq ticked up 0.1%.

Dollar General (DG) led gains on the S&P 500, with its stock up close to 12% after the discount retailer became the latest to post solid quarterly results, after a strong report from rival Dollar Tree (DLTR) yesterday.

Meta Platforms (META) shares also surged, with shares jumping 4% following a Bloomberg report the Facebook and Instagram parent is looking to slash spending on its metaverse segment next year.

Kroger (KR) was the largest decliner in the S&P 500. Its shares fell 6% after the grocery giant reported quarterly sales that missed analysts’ expectations.

Snowflake (SNOW) shares tumbled 11% after the cloud data analytics company issued a disappointing margin forecast, raising some worries on Wall Street about the company’s AI-related investments.

Intel’s (INTC) stock sank 6%, giving up most of its gains earlier in the week. Reuters reported the embattled chipmaker, which has explored selling parts of its business to improve its finances, plans to keep its networking and communications segment after a strategic review.

Oil and gold futures rose. The yield on the 10-year Treasury note climbed to 4.10%. The U.S. dollar lost ground to the euro and yen, while gaining on the pound. The price of Bitcoin slipped to trade just above $92,000 and Ethereum gained, while most other major cryptocurrencies lost ground.