Dow sets record as Nasdaq falls on chipmaker weakness

U.S. stocks ended mixed on Thursday, with the Dow Jones Industrial Average reaching a new intraday record while the Nasdaq Composite fell as semiconductor shares sold off. The Dow rose more than 200 points during the session, supported by strength in cyclical parts of the market. The drop in tech was led by chipmakers, including Micron and Sandisk, and the weakness also hit Asian semiconductor stocks such as Samsung Electronics and SK Hynix. Traders were also watching the latest U.S. labor data, which showed June payroll growth of 57,000, below expectations, even as the unemployment rate edged down to 4.2%. Elsewhere in markets, Tesla fell after reporting secondquarter deliveries above estimates, while Alphabet slipped after losing its European antitrust appeal. Oil prices continued to weaken amid signs of progress in U.S.Iran talks, and European stocks closed higher.