Wall Street ends a strong week with a daily decline
SPY•SPY•SPY•SPY•The S&P 500 fell about 0.4% and the Nasdaq about 0.9% on Friday, while the Dow rose 0.1%. Despite the declines, all three indexes posted their strongest weekly gains since early August.
The S&P 500 and Nasdaq fell on Friday but snapped four-week losing streaks, gaining 2.5% and about 2.6% for the week, respectively. The Dow rose 2% for the week, its strongest weekly gain since early August, and ended a two-week losing streak.
Technology was the weakest major S&P 500 sector on Friday, down 1.7%, while consumer staples led gainers with a 1.4% rise. The semiconductor index fell 3.4%; AMD dropped 8.8% and Nvidia lost 2% on the day and 12.8% for the week. Meta rose 2.9%, Apple added 0.4% and Microsoft gained 0.2%.
The U.S. 10-year Treasury yield rose to about 5.14%. The dollar, gold and U.S. crude edged higher, while bitcoin fell more than 4%.
