US stocks drifted lower Monday following their sharp losses from last week.
- The S&P 500 fell 29.88 points, or 0.5%, to 5,983.25. .
- The Dow Jones Industrial Average rose 33.19 points, or 0.1%, to 43,461.2.
- The Nasdaq composite fell 237.08 points, or 1.2%, to 19,286.92.
Nvidia fell 3.1% ahead of its profit report and was the heaviest weight on the market, the
AP reports. Wednesday will be the company's first profit report since a Chinese upstart, DeepSeek, upended the artificial-intelligence industry by saying it developed a large language model that can compete with big US rivals without having to use the top-flight, most expensive chips.
Berkshire Hathaway climbed 4.1% for one of the market's bigger gains after Warren Buffett's company reported a jump in operating profits for the latest quarter. But even there, the good news came with a bit of caution. The company said over the weekend that it's sitting on a mountain of $334.2 billion in unused cash. Such a large amount could indicate Buffett, who's famous for buying stocks when prices are low, may not see much worth purchasing in a market that critics say looks too expensive.
Starbucks rose 1.3% after saying it would cut 1,100 corporate jobs and leave several hundred more positions unfilled as new CEO Brian Niccol tries to make it a leaner operation. Domino's Pizza sank 1.5% after reporting results for the latest quarter that just missed analysts' expectations. Its international operations were a standout, but a closely tracked sales trend weakened for corporate-owned US stores. In stock markets abroad, German stocks ticked higher, and the DAX advanced 0.6% after political conservatives won an election dominated by concerns about Europe's largest economy.
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