Wall Street ends mixed on signs of shutdown progress

STORY: U.S. stocks ended mixed on Friday, as the Dow and S&P 500 gained marginally, but the tech-heavy Nasdaq slipped two-tenths of a percent to register its biggest weekly percentage drop in about seven months.All three stock indexes spent much of the session sharply lower, but the S&P 500 and Dow turned higher late in the day following reports of potential progress on a resolution to the record-long government shutdown.Still, concerns over sky-high valuations of AI-related momentum stocks continued to weigh on the Nasdaq, says Eric Lynch, managing director and co-portfolio manager at Suncoast Equity Management."It's a continuation of the last several days where despite having a great earnings season - your earnings up 13% year-over-year - there's been some profit taking going on. We've had a big run since April. Tech is kind of getting hit the hardest. Misses, earnings misses, typically only down 2% on average, are down 7% this earnings season. So what you're seeing today is just an extension of concern about Big Tech AI supercycle. And those tech names are leading the downside."Stocks on the move Friday included Tesla, which fell more than 3.5% a day after shareholders approved a $1 trillion pay package - the largest in history - for CEO Elon Musk. Shares of Expedia surged over 17.5% after the travel platform reported solid bookings from its business-to-business segment.And shares of Take-Two Interactive fell 8% following the company's decision to delay the launch of its popular video game Grand Theft Auto 6 to November 2026.

Ver comentarios