Stock market today: Stocks fluctuate in weak trading after US markets reopen after a holiday break | Ap business

Stocks on Wall Street fluctuated in afternoon trading Thursday as gains in technology companies and retailers helped mitigate losses elsewhere in the market.

The S&P 500 lost less than 0.1% after swinging between small gains and losses. The leading index is on a three-day winning streak.

The Dow Jones Industrial Average rose 6 points, or less than 0.1%, as of 1:52 p.m. Eastern time. The Nasdaq Composite lost less than 0.1%.

Trading volumes were lower than usual as U.S. markets reopened after the Christmas holiday.

Chipmaker Broadcom rose 2.9%, Micron Technology rose 1% and Adobe rose 0.8%.

While tech stocks were overall in the green, a few heavyweights weighed on the market. Semiconductor giant Nvidia, which has an outsized influence on indexes because of its huge valuation, slipped 0.1%. Meta Platforms fell 0.7%, Amazon lost 0.6% and Netflix fell 1.1%.

Tesla was among the biggest losers in the S&P 500, down 1.9%.

Healthcare stocks helped lift the market. CVS Health rose 1.7% and Walgreens Boots Alliance rose 3%, the biggest gain among S&P 500 stocks.

Several retailers also gained ground. Target rose 2.8%, Best Buy rose 2.2% and Dollar Tree rose 2.7%.

Retailers are hoping for solid sales this holiday season, and the day after Christmas is traditionally one of the top 10 shopping days of the year as consumers head online or rush to stores to redeem gift cards and raid bargain bins.

U.S.-listed shares of Honda and Nissan rose 4% and 16%, respectively. The Japanese automakers announced earlier this week that the two companies are in talks to merge.

Traders received a labor market update. In the U.S., jobless claims remained stable last week, even as ongoing claims rose to their highest level in three years, the Labor Department reported.

Government bond yields fell for the most part in the bond market. The yield on the 10-year Treasury note fell to 4.57% from 4.59% late Tuesday.

Major European markets as well as Hong Kong, Australia, New Zealand and Indonesia were closed.

Trading was expected to be subdued this week with little economic data on the calendar.

Nevertheless, US markets have historically experienced an upswing despite lower year-end trading volumes. The last five trading days of each year and the first two of the new year have brought an average gain of 1.3% since 1950.

So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s victory on Election Day, raising hopes of faster economic growth and looser regulations that would boost corporate profits. There are fears that Trump’s preference for tariffs and other measures could lead to higher inflation, higher U.S. national debt and difficulties for global trade.

Nevertheless, the US market remains on track to deliver strong returns in 2024. The benchmark S&P 500 is up about 26% so far this year and remains near its recent all-time high reached earlier this month – its most recent record of 57 highs this year.

Wall Street is set for several economic reports next week, including updates on upcoming home sales and home prices, a report on U.S. construction spending and snapshots of manufacturing activity.

AP business reporters Elaine Kurtenbach and Matt Ott contributed.

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