Wall Street closed mixed: Dow Jones and S&P 500 hit new records
The New York Stock Exchange closed mixed on Friday, with the technology sector holding its breath after Nvidia shares rose Thursday and the Dow Jones and S&P 500 indexes setting new records.
The main Dow Jones index added 0.16% to 39,131.53, the S&P 500 rose marginally 0.03% to 5,088.80 and the Nasdaq lost 0.28% to 15,996.82.
“Without any macro news this Friday, the euphoria surrounding Nvidia,” the artificial intelligence chip maker currently a rising star on Wall Street with stellar quarterly results, “created positive momentum that has continued,” commented Spartan’s Peter Cardillo. Capital.
“Artificial intelligence enthusiasm helped drive new highs,” Cardillo added, even as the tech sector slowed its growth after jumping nearly 3% on Thursday.
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Nvidia shares rose 16% on Thursday, increasing their market value from a whopping $277 billion to nearly $2 trillion, becoming the third-largest by market cap among the seven tech companies behind Microsoft and Apple.
On Friday, Nvidia shares continued to rise, this time more modestly, up 0.36% to $788.17.
Some big tech companies lost ground this Friday, such as Nvidia rival AMD, which lost 2.94%, Tesla, which lost 2.76%, or Apple, which lost 1%.
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In the day’s highlights, shares of online car retailer Caravana soared 32.09% to $69.23, posting its first annual profit.
On the other hand, investors sent Intuitive Machines to the Moon with a gain of 15.82% to $9.59 after the Texas company managed to land a probe on the Earth’s satellite, which became the first American landing on the Moon in half a century.
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