The Dow and the S&P 500 indexes were flat to slightly lower on Thursday, threatening to snap a six-session rally for the Dow, after a Wal-Mart Stores Inc forecast sparked concerns about consumer spending.
The Nasdaq gained, however, lifted by Intel Corp
Despite the fact that Wal-Mart tends to give conservative guidance, expectations have risen so much, said Burt White, managing director and chief investment officer at LPL Financial in Boston. Wal-Mart's tepid outlook is weighing on consumer sentiment and making people rethink (about the market rally).
Shares of Intel were up 1.3 percent at $20.10 and Advanced Micro Devices gained 23 percent at $6.55.
The Dow Jones industrial average <.DJI> was down 1.52 points, or 0.01 percent, at 10,289.74. The Standard & Poor's 500 Index <.SPX> was down 0.03 points, or 0.00 percent, at 1,098.48. The Nasdaq Composite Index <.IXIC> was up 4.05 points, or 0.19 percent, at 2,170.95.
Network equipment maker 3Com Corp
Shares of Brocade Communications Systems Inc
(Editing by Padraic Cassidy)