Wall Street Pauses After Record Highs; Nvidia Dips, Jobs Report Eyed

U.S. stocks are drifting as Wall Street's momentum cools following record highs. The S&P 500 and Nasdaq composite saw slight declines, while the Dow Jones rose marginally. Retailers Big Lots and Five Below reported disappointing earnings, highlighting a split between lower and higher-income customers amid rising living costs. A report showed an increase in unemployment benefit applications, suggesting a potential job market slowdown, which Wall Street hopes could lead to lower inflation and interest rate cuts by the Federal Reserve. European markets saw modest gains after the ECB cut interest rates.