Stocks closed with mixed results on Wall Street after some late-day selling.

The S&P 500 was essentially flat after giving up an earlier gain of nearly 1%. The Nasdaq fell 0.2%, while the Dow Jones Industrial Average managed a gain of 243 points, or 0.6%.

Nvidia weighed on the market with a drop of 6.4%. Its stellar results for the second quarter failed to meet the lofty expectations of some analysts.

On the economic front, the Commerce Department upgraded its assessment of U.S. economic growth for the second quarter to 3%, compared to a previous estimate of 2.8%.