International PaperInternational Paper rose more than 11% as materials stocks gained 1.44%.
The Dow Jones Industrial Average closed up 235.60 points, or 0.46%, at 51,947.25 on Friday, supported by a 2.4% surge in real estate stocks led by Digital Realty Trust, which gained 11% after raising its funds from operations guidance, and a 1.44% rise in materials stocks, with International Paper and Smurfit Westrock up more than 11%. The S&P 500 edged up 3.68 points to 7,411.98, while the Nasdaq fell 161.87 points, or 0.64%, to 24,975.82, pressured by selling in chip and technology stocks ahead of earnings reports from major companies next week, amid concerns over sharply rising artificial intelligence spending. Intel dropped 7.9% and the Philadelphia SE Semiconductor Index declined 4.5%.
International PaperInternational Paper rose more than 11% as materials stocks gained 1.44%.
Smurfit WestRock plcSmurfit Westrock rose more than 11% as materials stocks gained 1.44%.
Intel CorporationIntel dropped 7.9% amid chip sell-off ahead of earnings reports and concerns over rising AI spending.
Digital Realty Trust Inc