The S&P 500 rose Friday, boosted by gains in tech, but the benchmark was still on track for its first weekly decline in four weeks.
The broad market index was up 0.3%, and the Nasdaq Composite gained 0.5%. The Dow Jones Industrial Average advanced 101 points, or 0.2%.
Broadcom gained around 20% after posting fiscal fourth quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year. Micron and Nvidia followed Broadcom higher in early trading.
The moves come on the heels of a losing session on Wall Street. The 30-stock Dow dropped 234 points, or about 0.5%, falling for a sixth consecutive day and marking its longest losing streak since April. The Nasdaq Composite fell nearly 0.7% and broke below the 20,000 mark as technology stocks such as Nvidia slumped, while the S&P 500 edged down about 0.5%.
For the week, the Dow is heading for a 1.4% decline, while the S&P 500 is on pace for slide of 0.3%. The latter is on pace to end a three-week winning streak. The Nasdaq has outperformed, on track for a 0.8% advance for the period.
Source : CNBC
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