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Barchart
Barchart
Rich Asplund

Stocks Settle Mixed on Strength in Chip Makers and Weakness in Megacap Tech

MAR Nasdaq United States RH

The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.19%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.66%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.17%.  March E-mini S&P futures (ESH26) rose +0.17%, and March E-mini Nasdaq futures (NQH26) fell -0.19%.

Stock indexes settled mixed on Friday.  The S&P 500 and Dow Jones Industrial Average recovered from 2-week lows and finished higher, driven by strength in chipmakers and AI-infrastructure stocks.  However, stock gains were limited, and the Nasdaq 100 fell to a 2-week low amid weakness in megacap technology stocks.  Also, weakness in cybersecurity stocks and insurance companies limited gains in the broader market.  In addition, higher bond yields were a negative factor for stocks, as the 10-year T-note yield climbed to a 1.5-week high of 4.19% on Friday.

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