Main US indexes lower, weekly results look mixed
SPY•The Dow fell more than 1% Friday, while the S&P 500 and Nasdaq slipped modestly. The Dow was tracking a slight weekly gain, while the S&P 500 and Nasdaq were on pace for modest declines.
1. Indexes fall Friday
Wall Street’s main indexes traded lower Friday after Thursday’s sharp AI-driven selloff. The Dow fell more than 1%, while the S&P 500 and Nasdaq were modestly lower. Telecom stocks faced pressure over concerns that intensifying competition from SpaceX could chip away at market share.
2. Weekly performance mixed
The Dow was tracking a slight weekly gain, while the S&P 500 and Nasdaq were on pace for modest declines. The Russell 2000 was up about 1.2% for the week and could snap a six-week losing streak if that gain held through Friday’s close.
3. Sector and breadth trends
Most S&P 500 sectors were lower, led by industrials, down more than 2%; energy gained nearly 2% and was on track for a record closing high. Chip stocks rebounded, with the Philadelphia Semiconductor Index up roughly 0.6%. The S&P 500 Equal Weight Index was on track for its strongest month relative to the cap-weighted index since April 2009.
