On Friday, the S&P 500 closed mostly flat, while the Nasdaq gained 0.1%. The Dow, however, dropped 86 points, extending its losing streak to seven sessions, marking its longest stretch since 2020.
Losses in major tech stocks like Nvidia (-2.2%), Meta (-1.6%), and Amazon (-0.6%) weighed on the market, while Tesla saw a 4.3% surge, closing record high of $436.23. Broadcom surged 24.4%, hitting a $1 trillion market cap after reporting a 220% increase in AI-related revenue, exceeding expectations.
This boost lifted semiconductor stocks, including Marvell (+10.8%) and Taiwan Semiconductor (+5%) which booked strong gains. The broader market showed mixed performance, with concerns over the Federal Reserve's upcoming policy decision and economic conditions limiting further gains.
For the week, the S&P 500 was on track for a 0.7% decline, the Dow for a 1.8% drop, while the Nasdaq managed a 0.3% gain, reflecting broader economic uncertainty.
Source: Trading Economics
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