Nasdaq at new record as Dow dips on weak retail sales
The Dow and S&P 500 retreated from records Friday on disappointing US retail sales data, but the Nasdaq edged to a fresh all-time high.
US retail sales were flat in July at $457.7 billion, suggesting a key driver of the world's largest economy had plateaued by mid-summer.
But shares of visual computing company Nvidia jumped 5.6 percent after reporting a 24 percent rise in second-quarter sales to $1.4 billion, thanks to strong growth in the video-gaming business.
The gains in Nvidia helped the Nasdaq finish up 0.1 percent at 5,232.89, its second straight record.
The Dow Jones Industrial Average shed 0.2 percent at 18,576.47, while the broad-based S&P 500 dipped 0.1 percent to 2,184.05.
Chinese e-commerce giant Alibaba surged 7.1 percent, its second major gain in a row following a big jump in first-quarter revenues. It also rose 5.0 percent Thursday.
Yahoo, which owns a large stake in Alibaba, added 4.1 percent.
Dow members ExxonMobil and Chevron gained 1.3 percent and 0.8 respectively as oil prices rose.
But shares of commodities and chemical companies were under pressure. United States Steel slumped 7.1 percent and Alcoa, Dow Chemical and Freeport-McMoRan all lost 2.4 percent.
Nordstrom rose 8.0 percent after reporting better-than-expected earnings and announcing a partnership with data-analysis firm Aimia to boost its customer loyalty program.