Meta, Dollar General, Kroger, and more

Major US stock indexes oscillated between gains and losses Thursday afternoon, with technology stocks rising but consumer staples stocks losing ground. The Dow Jones Industrial Average fell 0.1% in recent trading, while the S&P 500 and Nasdaq rose 0.1%.

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

Shares of Meta Platforms (META) also rose, with shares jumping 4% after a Bloomberg It was reported that the parent company of Facebook and Instagram is looking to reduce spending on its metaverse segment in the coming year.

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

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

Intel (INTC) stock fell 6%, giving up most of its gains from earlier in the week. Reuters The beleaguered chipmaker, which has explored selling parts of its business to improve its finances, said it plans to keep its networking and communications sector intact after a strategic review.

Oil and gold futures rose. The yield on 10-year Treasury bonds rose to 4.10%. The US dollar lost strength against the euro and the yen, while it rose against the pound. Bitcoin fell to trade just above $92,000, Ethereum rose, while most other major cryptocurrencies lost ground.