Stock Market Mixed: S&P, Dow Hit Records; Nasdaq Slips
The stock market saw a mix of gains and losses on Friday. The S&P 500 and dow jones reached new highs, while the Nasdaq 100 gave up early gains. Meanwhile, tech giants and semiconductor companies reported varied performances.
The day started with the S&P 500 hitting a new record high, closing up 0.2 percent at 6,730 points. The dow jones Industrial Average also performed strongly, gaining around 1.0 percent to 46,960 points about two hours before market close. However, the Nasdaq 100 struggled, giving up its early gains to close down 0.3 percent at 24,828 points.
In the tech sector, Nvidia hit a significant milestone, reaching over 190 USD for the first time since its split last summer. Although it closed down 0.6 percent, it has gained over 40 percent year-to-date. Lam Research also continued its record run, rising 50 percent since September, but closed up only 0.1 percent on Friday.
Semiconductor companies saw mixed results. Datadog, NXP Semiconductors, On Semiconductor, Microchip Technology, and Micron all gained between 0.9 to 2.2 percent. However, Applied Materials fell 2.0 percent after announcing a decrease in net sales for the 2025/26 fiscal year.
Notable collaborations were announced in the tech industry. Hitachi and OpenAI signed a memorandum of understanding to work together on AI infrastructure and global data center expansion. Hitachi will supply power transmission and distribution equipment for AI data centers in this partnership. Additionally, Fujitsu and Nvidia are expanding their partnership to develop and provide a platform for industry-specific AI agents in sectors like healthcare, manufacturing, and robotics.
On the other hand, Nike gave back some of its gains from the past two trading days, closing down 2.4 percent.
Friday's trading session ended with a mix of records and retreats. While the S&P 500 and dow jones reached new highs, the Nasdaq 100 struggled. Tech and semiconductor companies reported varied performances, with some hitting milestones and others facing setbacks. Collaborations in AI and data center development were announced, signaling continued innovation in the tech sector.
