Stocks mixed with Nasdaq down; gold prices jump

By Caroline Valetkevitch and Nell Mackenzie

NEW YORK/LONDON, Aug 5 (Reuters) - Major banal indexes were mixed adjacent level connected Wednesday, with declines successful shares of SpaceX weighing connected the Nasdaq, portion U.S. lipid prices eased.

In commodity markets, golden prices ‌rose to their highest level successful astir 7 weeks pursuing caller talks connected Iran. Spot golden was past up 4.09% ‌at $4,242.92 an ounce.

Shares of AI and outer institution SpaceX fell much than 8%. The institution touted faster-than-expected returns from its AI spending connected its first-ever net telephone arsenic a ​public company, but investors remained acrophobic astir however agelong its Starlink concern could proceed to bankroll costly investments.

Chipmaker Advanced Micro Devices shares were down much than 5% arsenic results that bushed analysts' estimates failed to conscionable investors' lofty expectations.

U.S. crude fell 0.15% to $75.64 a tube and Brent roseate to $79.79 per barrel, up 0.54% connected the day.

A elder Iranian root and 2 determination officials told Reuters that a projected woody betwixt Iran and ‌Oman would springiness Tehran power implicit ships entering ⁠the Gulf done the Strait of Hormuz, successful 1 of the biggest concessions yet to Iran.

Adam Sarhan, main enforcement of 50 Park Investments successful New York, said tech shares are easing aft crisp beardown gains.

"Tech stocks ⁠have gone precise acold successful a precise abbreviated magnitude of time," helium said. "It's gone a small spot excessively far, excessively fast. And it's perfectly mean to spot immoderate nett taking present before, I deliberation we spell higher... Short term, we're conscionable a small spot overbought."

An scale of semiconductors is down ​0.1% ​on Wednesday but remains up much than 7% for the week truthful far.

The ​Dow Jones Industrial Average roseate 424.80 points, oregon 0.78%, ‌to 54,509.86, the S&P 500 roseate 3.23 points, oregon 0.04%, to 7,739.40 and the Nasdaq Composite fell 97.21 points, oregon 0.37%, to 26,487.78.

MSCI's gauge of stocks crossed the globe roseate 5.12 points, oregon 0.45%, to 1,150.81.The pan-European STOXX 600 scale ended up 0.04%, eking retired a caller all-time high.

Drugmaker Novo Nordisk, 1 of Europe's biggest companies by marketplace value, was down aft disappointing income of its Wegovy weight-loss pill overshadowed a beardown second-quarter net beat.

HSBC shares besides fell, a time aft its results arsenic investors digested analysts' absorption to the figures.

Japan's Nikkei ‌rose to its highest since July 23, portion South Korea's marketplace continued its ​volatile run, closing 3.8% higher.

Treasury yields were small changed pursuing a benign U.S. quarterly ​refunding announcement. Investors remained focused connected economical information culminating successful ​Friday's July employment report.