US stock indices ended Friday mixed as a rebound in Treasury yields reignited concerns about a weakening macroeconomic outlook. The S&P 500 edged up 0.2%, the Dow Jones Industrial Average slipped 95 points, and the Nasdaq Composite advanced 0.7%.
The 10-year Treasury yield climbed as ongoing uncertainty over Middle Eastern oil supplies pushed fuel and natural gas prices higher. The renewed risk of energy-driven inflation has begun to filter through to core consumer prices, prompting the Federal Reserve to raise interest rates this week. Most FOMC policymakers signaled they expect at least one more rate hike.
Credit-sensitive sectors underperformed, with banks and asset managers posting broad-based losses. Bank of America declined 0.8%, while Goldman Sachs fell 1%.
Large AI-focused hyperscalers were mostly weaker amid a wave of debt issuance to finance heavy capital expenditures. Meta dropped 2.4%, and Oracle retreated 2%.
By contrast, chipmakers mostly advanced. Broadcom gained 3%, and Micron rose 3.9%, helping to offset some of the drag on the Nasdaq from other segments.
For the week, the Dow lost 733 points, while the Nasdaq climbed 2.6% and the S&P 500 added 0.7%.
