FX.co ★ US Stocks Mixed

On Friday, US stock markets presented a mixed picture: the S&P 500 hovered around its starting point, the Nasdaq saw a modest rise of 0.1%, and the Dow Jones dropped nearly 300 points. Among sectors, financials and utilities underperformed while energy stocks led gains. Nvidia gained 1.6% following reports that Chinese authorities invited major tech companies to start placing orders for Nvidia's H200 AI chips. Conversely, Intel faced a sharp decline, with shares falling over 14% after the company provided a disappointing forecast and indicated ongoing difficulties. Broadcom and Apple also saw their shares decline, with drops of 2.5% and 0.9%, respectively. Economically, the University of Michigan revised its consumer sentiment index upward to reach a five-month high. Meanwhile, early readings of the S&P Global Purchasing Managers' Index (PMI) suggested a slight deceleration in growth across the services and manufacturing sectors. For the week, the S&P 500 and Nasdaq are set to register their second consecutive weekly losses, declining by 0.4% and 0.3% respectively, while the Dow Jones remains relatively stable.