U.S. stocks ended mixed on Friday, with the Nasdaq sliding 0.6% as a tech selloff driven by AI spending concerns overshadowed early gains from easing oil prices. The Dow Jones Industrial Average rose 0.5% to 51,947.25, boosted by a 3.5% jump in Apple shares, while the S&P 500 edged up less than 0.1% to 7,411.98. The tech-heavy Nasdaq dropped 161.87 points to 24,975.82, with the Information Technology Select Sector SPDR declining 1.4%, even as ten of the S&P 500's eleven sectors finished higher. Oil prices fell sharply after a Reuters report said Pakistan planned to initiate peace talks between the U.S. and Iran, with Brent crude settling at $96.78 per barrel, down nearly 4%. In earnings, Intel shares fell 7.9% despite beating second-quarter estimates and raising its profit forecast, while investors looked ahead to results from Microsoft, Amazon, and Meta next week.
Intel CorporationIntel shares fell 7.9% despite beating Q2 estimates and raising profit forecast, indicating investor disappointment.
Meta Platforms Inc.
