The Dow led Friday’s session with a 0.45% gain while the Nasdaq fell 0.64% and the S&P 500 barely moved, yet all three benchmarks closed the week lower. A sharp split between winners and losers — headlined by a 17.81% weekly drop in Tesla — defined the tape.
US equity benchmarks parted ways on Friday. The Dow industrial average rose 0.45% to 51,952.20 as the best performer among the majors, while the S&P 500 edged up 0.05% and the Nasdaq fell 0.64%. The small-cap Russell 2000 slipped 0.35%.
A losing week under the mixed close
The daily split masked a weaker five days. For the trading week, the Dow fell 0.38%, the S&P 500 lost 0.61%, and the Nasdaq dropped 2.13%.
Individual stocks told a far more dramatic story than the indices. Capital rotated toward earnings beats, defense names, and select semiconductors, with Super Micro Computer jumping 24.48% on the week and Lockheed Martin adding 14.51%. On the other side, Tesla sank 17.81%, Meta lost 7.87%, and Alphabet fell 7.81% as investors took profits in high-flying growth and AI-related names.
According to Reuters, global tech stocks took a hit earlier this week after Alphabet and Tesla spooked investors by burning through cash on AI infrastructure in their latest quarter.
Yields and oil keep the pressure on
The backdrop stayed tense. The 10-year U.S. Treasury yield hit a more than 18-month high of 4.7135%, climbing 14 basis points on the week. Reuters tied the pressure to rising oil prices from the Middle East conflict, which revived inflation fears.
Those fears reshaped rate expectations. Brent crude slipped 3% to $97.69 a barrel after surging 7% overnight to a two-month high of $102, keeping the inflation picture in focus. Traders now see a one-in-three chance of a Fed rate hike as soon as next week, a sharp shift toward the prospect of a rate hike from a week earlier.
For now, the Nasdaq is holding above its 100-day moving average at 24,709, which keeps its longer-term bullish bias intact. Meta, Roblox, and Chipotle — three of the week’s biggest losers — are scheduled to report next week.
Sources: investingLive, Investing.com
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