Stock Market Dow, S&P Fall as Oil Nears $112
The Dow Jones Industrial Average fell 1.1% and the S&P 500 slipped 0.2% on Friday as concerns about the AI trade lingered after a sharp technology sell-off…
U.S. stocks diverged Friday as the stock market Dow, S&P fell while the Nasdaq edged higher, with lingering concerns about artificial intelligence investments and oil prices near a five-month high weighing on trading.
The Dow Jones Industrial Average dropped 1.1% and the S&P 500 lost 0.2%. The Nasdaq Composite rose 0.1% after semiconductor and Big Tech shares sold off on Thursday, according to Yahoo Finance.
Oil stayed near a five-month high. Brent crude hovered near $112 per barrel, while West Texas Intermediate crude climbed to $102 per barrel, as investors watched for escalating tensions in the Middle East.
The mixed session followed a steep sell-off in technology stocks this week, which had prompted investors to move toward bonds. The 10-year Treasury yield remained below the 5% threshold.
AI stocks attempt a rebound
Concerns about rising financing costs and a possible slowdown in capital spending had pressured AI-related shares, including cloud computing companies described by Yahoo Finance as already battered. On Friday, the sector attempted to recover.
Shares of chipmakers Nvidia and AMD edged higher, along with other companies tied to technology infrastructure, after Thursday's declines. The rebound was limited: the Dow and S&P still ended lower, while the Nasdaq's gain was slight.
Investors were also weighing the outlook for companies that have made major spending commitments to AI. Yahoo Finance reported concerns that higher financing costs and a potential slowdown in capital expenditure could weigh on the trade. The report did not identify a broader shift in corporate spending plans.
Some of the week's prominent earnings-related stocks steadied. SpaceX, Tesla and Meta shares stabilized Friday after falling in the previous session, according to Yahoo Finance.
Oil and bonds shape the session
The oil move added another pressure point for markets already absorbing the technology sell-off. Crude prices remained elevated amid fears of rising Middle East tensions, while the bond market drew investors seeking safety.
That combination left the major indexes moving in different directions. The Nasdaq's small advance came as chip and large technology shares tried to recover; the declines in the Dow and S&P showed that the session's weakness extended beyond those shares.
Yahoo Finance also reported that South Korean memory company SK Hynix shelved plans to list its flash memory unit, Solidigm, in the United States, citing market conditions and share-price trends. Solidigm had aimed to raise $10 billion to $15 billion at a valuation of up to $150 billion, according to industry estimates cited by the Wall Street Journal.
SK Hynix had raised $26.5 billion in a U.S. listing in July, Yahoo Finance reported. Its shares rose Friday but remained below their $149 listing price and about a third below their September record.
For investors tracking the next session, the latest figures point to two forces still shaping the market: the struggle to regain ground after the technology sell-off and crude prices near $112 per barrel amid Middle East concerns.
Source: finance.yahoo.com
