The Nasdaq composite slipped 0.3% at Friday's open, lagging a higher Dow as oil prices retreated. Technology shares split, with Adobe and Workday climbing while Sandisk and Astera Labs fell. Intel jumped after beating second-quarter earnings estimates.
The Nasdaq composite fell 0.3% in morning trading Friday, trailing the broader market. The Dow Jones Industrial Average rose 0.2% while the S&P 500 moved up a fraction. The Invesco QQQ fell 0.4% after the opening bell.
Inside the Nasdaq-100, Adobe and Workday each rallied more than 3% just after the open. But the gains did not carry across the index: Sandisk and Astera Labs each sold off roughly 5% in morning trading.
The split in tech came as commodities pulled back. West Texas Intermediate crude oil dropped roughly 2%, trading around $90.30 per barrel. The 10-year Treasury yield eased to 4.69%.
Meanwhile, Intel surged 5% after topping Wall Street's second-quarter targets and pairing the beat with its third-quarter outlook. The company earned an adjusted 42 cents a share on sales of $16.13 billion in the second quarter. Analysts polled by FactSet had expected 22 cents a share on sales of $14.43 billion.
Source: Investor's Business Daily
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