U.S. stock markets closed mixed on Friday, with the Dow Jones Industrial Average rising 235.60 points to 51,947.25, while the Nasdaq fell 161.87 points to 24,975.82. Investors sold off chip stocks amid concerns over artificial intelligence spending ahead of major tech company earnings reports this week. The S&P 500 edged up just 3.68 points to 7,411.98, pressured by a 0.88% decline in technology shares, led by Intel dropping 7.9% and the Philadelphia Semiconductor Index plunging 4.5%. A 3% drop in crude oil prices provided some support to the investment climate, against a backdrop of ongoing Middle East tensions and reports that China is pushing for renewed peace talks between the U.S. and Iran.
Intel CorporationIntel dropped 7.9% amid chip stock sell-off on AI spending concerns ahead of tech earnings.