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S&P on Track for Losing Week
The S&P 500 was little changed on Friday but is still on pace for its first weekly decline in four weeks. The Dow Jones Industrial index faltered 86.06 points Friday to 43,828.06, to run its losing streak to seven straight sessions. The much-broader index shed 0.16 points to 6,051.09 The tech-heavy NASDAQ recovered 23.88 points before the close to 19,926.73. Nvidia tumbled 3% and Meta Platforms fell nearly 2%. Amazon shares were also down 1%. On the other hand, Broadcom hit $1 trillion in market cap, rallying more than 19% after posting fiscal fourth-quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year. For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.7%. The latter is on pace to end a three-week winning streak. The NASDAQ is on track for a 0.03% loss for the period. Prices for the 10-year Treasury shrank, raising yields to 4.39% from Thursday’s 4.33%. Treasury prices and yields move in opposite directions. Oil prices revived $1.16 to $71.18 U.S. a barrel. Prices for gold settled $28.70 an ounce to $2,680.70 U.S.
The S&P 500 was little changed on Friday but is still on pace for its first weekly decline in four weeks.
The Dow Jones Industrial index faltered 86.06 points Friday to 43,828.06, to run its losing streak to seven straight sessions.
The much-broader index shed 0.16 points to 6,051.09
The tech-heavy NASDAQ recovered 23.88 points before the close to 19,926.73.
Nvidia tumbled 3% and Meta Platforms fell nearly 2%. Amazon shares were also down 1%. On the other hand, Broadcom hit $1 trillion in market cap, rallying more than 19% after posting fiscal fourth-quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year.
For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.7%. The latter is on pace to end a three-week winning streak. The NASDAQ is on track for a 0.03% loss for the period.
Prices for the 10-year Treasury shrank, raising yields to 4.39% from Thursday’s 4.33%. Treasury prices and yields move in opposite directions.
Oil prices revived $1.16 to $71.18 U.S. a barrel.
Prices for gold settled $28.70 an ounce to $2,680.70 U.S.
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