### Stock Market Dips as Tech Sector Weakens Ahead of Thanksgiving

The stock market experienced a downturn today with the Dow Jones Industrial Average reversing its earlier gains just before the Thanksgiving holiday. This shift came after the release of the Federal Reserve's preferred inflation gauge for October. By midday, indexes had reached their session lows, with the Dow falling by 0.1%, the S&P 500 down by 0.5%, and the Nasdaq suffering a more significant loss of 1%. Interestingly, this comes just a day after both the S&P and Dow closed at record highs.

Tech stocks were notably weak, with Nvidia declining sharply after earnings reports from Dell and HP put additional pressure on the sector. Super Micro Computer hit resistance at its 50-day moving average, managing to trim gains to 2% by noon Eastern Time. In contrast, Warren Buffett's Berkshire Hathaway broke out of its base, showing positive movement.

Small-cap stocks showed resilience, with the Russell 2000 index trading 0.1% higher at midday. However, the Innovator IBD 50 ETF fell by 1.4%. Despite the generally lower trading volume on both the NYSE and Nasdaq compared to the previous day, advancing stocks led decliners by more than 2-to-1 on the NYSE and nearly 3-to-2 on the Nasdaq.

The yield on the 10-year Treasury note declined by seven basis points to 4.23%. Berkshire Hathaway broke out of a flat base with a buy point of 484.82, continuing its upward trend for a fourth consecutive week. Several other real estate investments and financial stocks also saw positive movements.

While the Fed's Personal Income and Outlays index aligned with expectations, showing a 0.2% month-on-month increase and a 2.3% annual rise for October, Nvidia continued its decline. By Wednesday, the stock dropped more than 3%, falling below its 50-day moving average. Meanwhile, other tech-related stocks within the Dow experienced varied performance, with UnitedHealth and Nike showing gains of over 1.5%.

Dell shares fell after reporting mixed earnings on Tuesday night. Despite beating earnings estimates with $2.15 per share, its sales of $24.4 billion missed the $24.7 billion forecast. HP shares also dropped below their 50-day line after reporting fiscal fourth-quarter results. Although earnings grew by 3% to $0.93 per share on sales of $14.1 billion, the shares failed to maintain their momentum.

Amidst the market's volatile movements, several companies stood out. Urban Outfitters soared by 15% after reporting robust third-quarter earnings and receiving an analyst upgrade. The retailer's earnings reached $1.10 per share with sales of $1.36 billion, far exceeding expectations.

In the cybersecurity sector, CrowdStrike managed to exceed analysts' estimates with $1.01 billion in sales and $0.93 earnings per share, but the company’s outlook on its key metrics raised concerns. This apprehension contributed to a diminished gain from its buy point.

Despite the mixed performance across sectors, the stock market showed a landscape of advancing and declining stocks, reflecting the nuanced economic signals influencing investor sentiment.