S&P 500 .SPX climbed for a third straight week, adding 0.4% as the AI trade eclipsed U.S.-Iran negotiations stalemate .N.
Dow .DJI dipped 0.6%, while the tech-heavy Nasdaq Composite .IXIC inched up 0.1%.
With fresh records in hand, the S&P 500 turned in a positive week, and the Nasdaq pennant breakout put record highs back in play.
The U.S. 10-year Treasury yield US10YT=RR ticked up to the 4.69% area US/.
Sector performance led by energy
A vast majority of sectors lifted. Energy vaulted, while Consumer Discretionary slumped.
Energy .SPNY surged 7.3%. The sector gained as crude rose on Hormuz uncertainty, notching its biggest weekly gain since Oct. 2022 O/R.
Financials .SPSY were up 0.9%. Nvidia NVDA.O said it partnered with Apollo APO.N, BlackRock BLK.N, Blackstone BX.N, Brookfield BAM.N, Goldman Sachs GS.N and KKR KKR.N to raise $500 bln for AI buildout, propelling alternative asset manager stocks.
Tech .SPLRCT was up 0.2%.
AI-related stocks and other notable movers
Memory storage company Sandisk SNDK.O rocketed 35% on the week as executives touted growth and a contract pipeline, encouraged by strong demand amid rapid AI infrastructure expansion.
AI server maker Super Micro SMCI.O soared after an upbeat annual revenue forecast on data center adoption.
Intel INTC.O initially fell after an upsized $20 bln share sale to fund its chip contract manufacturing business, then recovered and finished the week slightly in the green.
Semiconductor index .SOX was up 0.5%.
Network equipment maker Cisco CSCO.O fell despite an upbeat 2027 revenue forecast, as expectations were high for AI-linked firms.
Chip equipment maker Applied Materials AMAT.O dropped as a strong outlook failed to impress amid lofty investor hopes.
Materials .SPLRCM lost 0.9%. Spot gold XAU= was up 0.7% for the week, and the PHLX Gold/Silver Index .XAU added 0.5%.
Consumer Discretionary .SPLRCD slid 2%. Tapestry TPR.N tumbled on a soft revenue forecast amid Kate Spade weakness.
Meanwhile, the wait-and-see crowd grew as bulls eased, according to AAII. And, from Iran to Anthropic: what prediction markets are pricing in.
SPY•
