S&P 500 ends down as chip stocks give up gains

S&P 500 ends down as chip stocks give up gains

By Noel Randewich and Sruthi Shankar

Thu May 7, 2026  

Was it a day of profit-taking after the string of recent records or was it more jitters over the war? In any case, all the indexes retreated today after starting the day modestly in the black but then declining steadily all day. The exception was the Nasdaq which began the day well into the black, up some 200 by 11 a.m. before starting its own decline. This was all despite the relatively good news of a continuing strong Q1, progress in the Iran peace talks, unemployment benefits coming in lower than expected, and better than expected private payrolls.  

But in spite of all these positive reports, investors are still laying low on the employment front awaiting the government’s non-farm payrolls report coming Friday where the roster is expected to include an increase of 62,000 new jobs for April. Despite this hesitancy, volume today came in for once above the 17.5 average, closing today at 18.3 billion.  

DJ: 49,910.59  +612.34       NAS: 25,838.94  +512.82        S&P: 7,365.12  105.90         5/6

DJ: 49,596.97  -313.62        NAS: 25,806.20  -32.75           S&P: 7,337.11  -28.01           5/7

 Thu 5-7-26 4:43 pm S&P 500 ends down as chip stocks give up gains | Reuters