S&P 500 Gains and Losses Today: Index Dips After Briefly Crossing 5,500 [Video]

Major U.S. equities were mixed on Thursday as investors drew back from Nvidia (NVDA) and several other chipmakers to send the tech sector lower

After briefly crossing the 5,500 level for the first time, the S&P 500 moved lower by 0.3% to step back from its record high. Nasdaq dropped lower by 0.8% on the tech turndown, while the Dow jumped 0.8%.

Shares of Gilead Sciences (GILD) soared 8.5% after the company announced that tests of its HIV prevention drug proved 100% effective in women in trials. The results were so successful that an independent monitoring committee recommended expanding testing of the drug called “lenacapavir.” More trials are needed before it can apply for Food and Drug Administration (FDA) approval, including testing on men. 

Consulting firm Accenture (ACN) stock was 7.3% higher after it reported a jump in bookings related to its artificial intelligence (AI) products. Accenture beat its profit expectationsdespite its revenue …