Azzad MarketWeek
Stocks ended mixed as falling oil prices helped lift the Dow Industrials, while concerns about AI valuation put pressure on the broader market.
The Standard & Poor’s 500 Index fell 1.95 percent while the Nasdaq Composite Index skidded 4.60 percent. The Dow Jones Industrial Average rose 0.60 percent.
Dow Industrials Take the Lead
The S&P 500 and Nasdaq indexes were under pressure to start the week as the AI trade and tech more broadly came under scrutiny. But the Dow Industrials made a modest gain for the day.3
The rotation away from tech continued Tuesday, with large consumer stocks faring particularly well, which minimized the Dow’s decline. The S&P fell about 1.4 percent for the day, while the Nasdaq fell more than 2 percent.
Midweek, stocks were mixed. Healthcare, financial, and industrial sectors carried the Dow to small gains on Wednesday and Thursday. Conversely, continued pressure on tech shares led the S&P and Nasdaq down, albeit at a slower pace than earlier in the week.
Then markets flattened out as the week wrapped up. The slow-but-steady Dow logged its 3rd consecutive weekly gain, while the Nasdaq and S&P 500 were under steady pressure during the week.
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