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Dow Stumbles, Still Hopes to Break Losing Streak
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 Dow Jones Industrial index retreated 9.04 points Friday to 43,905.08, after six straight losing days. The much-broader index eked ahead 4.5 points to 6,055.75 The tech-heavy NASDAQ restored 54.99 points to 19,957.83. Broadcom hit $1 trillion in market cap, rallying more than 21% 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 morning trading. For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.5%. The latter is on pace to end a three-week winning streak. The NASDAQ has outperformed, on track for a 0.5% advance for the period. Prices for the 10-year Treasury shrank, raising yields to 4.37% from Thursday’s 4.33%. Treasury prices and yields move in opposite directions. Oil prices revived 45 cents to $70.47 U.S. a barrel. Prices for gold settled $36.00 an ounce to $2,673.40 U.S.
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 Dow Jones Industrial index retreated 9.04 points Friday to 43,905.08, after six straight losing days.
The much-broader index eked ahead 4.5 points to 6,055.75
The tech-heavy NASDAQ restored 54.99 points to 19,957.83.
Broadcom hit $1 trillion in market cap, rallying more than 21% 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 morning trading.
For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.5%. The latter is on pace to end a three-week winning streak. The NASDAQ has outperformed, on track for a 0.5% advance for the period.
Prices for the 10-year Treasury shrank, raising yields to 4.37% from Thursday’s 4.33%. Treasury prices and yields move in opposite directions.
Oil prices revived 45 cents to $70.47 U.S. a barrel.
Prices for gold settled $36.00 an ounce to $2,673.40 U.S.
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