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US Stock Indexes Are Mixed as Tech Sector Weighs on Market
Chipmakers and AI-related shares led declines, while gains in banks and industrials helped keep the S&P 500 near flat.
- US stock indexes opened mixed on Friday as a pullback in big technology companies weighed on the market, with the Dow Jones Industrial Average rising while the Nasdaq composite struggled.
- Investors worry tech companies, which relied on debt markets to finance artificial intelligence investments, cannot sustain spending as yields on the 10-year Treasury slipped to 5.09% from 5.10% late Thursday despite remaining near multi-year highs.
- Alcoa jumped 8.8% after topping Wall Street profit estimates, while Netflix stock fell 1.4% following leadership changes and Tesla shares rose 0.6% after unveiling a new Roadster model.
- Federal Reserve Chairman Kevin Warsh offered no fresh signals on policy during a meeting in Bangkok on Friday, though traders expect rates to hold this month while odds of a December increase jumped to 76.1%.
- Global oil prices remain elevated, with Brent crude up 0.1% at $105.85 per barrel as uncertainties in the Middle East and concerns over flows in the Strait of Hormuz have the market "pricing in a significant risk premium.
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US stock indexes are mostly losing ground as the tech sector weighs on the market
U.S. stock indexes are mostly slipping on Wall Street as more declines for big tech stocks weigh on the market. The S&P 500 slipped 0.5% in afternoon trading Friday. The index is still on track for a weekly loss, and…
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US stock indexes off to mixed start as tech sector weighs on market
U.S. stock indexes are mixed on Wall Street as more declines for big tech stocks weigh on the market. The S&P 500 slipped less than 0.1% in early trading Friday. The index is still on track for a weekly loss,…
Coverage Details
Total News Sources17
Leaning Left3Leaning Right1Center13Last UpdatedBias Distribution76% Center
Bias Distribution
- 76% of the sources are Center
76% Center
L 18%
C 76%
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