File photo: Following NYC / Pexels (2012).
Wall Street finished Friday with a split result: technology shares pulled the S&P 500 and Nasdaq lower, while the Dow Jones Industrial Average edged higher. The late weakness did not erase the major indexes’ gains for the week.
The Nasdaq Composite fell 0.91%, the S&P 500 lost 0.40% and the Dow added 0.10%, according to the cash-index quote service’s closing quotes. Those closing readings are distinct from the earlier preliminary figures released just after the bell.
Friday’s closing picture
| Index | Thursday close | Friday close | Change points / % |
|---|---|---|---|
| Dow Jones | 52,297.09 | 52,347.55 | +50.46 +0.10% |
| S&P 500 | 7,592.40 | 7,561.67 | -30.73 -0.40% |
| Nasdaq Composite | 25,366.09 | 25,136.27 | -229.82 -0.91% |
The figures are from the cash-index quote service’s Dow, S&P 500 and Nasdaq Composite cash-index quote pages. They describe the regular stock-market session, not after-hours trading in individual companies.
Chips weigh on the market
Nvidia fell again following Thursday’s departure of chief executive Jensen Huang. Weakness spread across semiconductor shares, with Advanced Micro Devices and Broadcom among the sector’s biggest drags. The S&P 500’s technology sector was its weakest major group.
The selloff left the Nasdaq with the largest decline of the three main indexes. Still, both the Nasdaq and S&P 500 ended four-week losing streaks. Friday’s losses and the week’s gains describe different periods: stocks gave back ground on the final day without surrendering the whole rebound.
Inflation remains in view
Before the opening bell, the Bureau of Labor Statistics said producer prices rose 0.3% in October, slower than September’s 1.4% increase. Over the past year, however, prices rose 6.5%, the largest annual increase since November 2022.
The monthly slowdown therefore did not mean wholesale prices were falling. Goods prices rose 0.5% in October and services prices rose 0.2%. The report tracks prices received by producers, rather than the household purchases measured by the consumer price index.
For investors heading into the weekend, the result was a modest weekly recovery with a weak finish for technology stocks. A higher Dow did not mean the broader market rose alongside it.
JBizNews Desk | New York
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