Key Points:
- The Dow Jones and S&P 500 rose slightly, but the NASDAQ fell.
- Nike and UnitedHealth led the Dow, while Apple and Visa dropped.
- Applied Materials surged 8% to hit a new all-time high.
- Gold futures climbed over 2% to cross the $5,000 mark.
U.S. stock markets closed with mixed results on Friday as investors rotated money out of technology and into safer industries. The Dow Jones Industrial Average managed a small gain of 0.10%, and the S&P 500 inched up by 0.05%. However, the tech-heavy NASDAQ Composite struggled, dropping 0.22% by the closing bell.
Traditional sectors like Utilities, Basic Materials, and Industrials led the charge higher. In contrast, Technology and Telecoms dragged the market down. This shift suggests traders are playing it safe rather than betting on high-growth tech stocks right now. Rising stocks outnumbered falling ones on the New York Stock Exchange, showing that the broader market is still holding up despite the tech slump.
Nike had a great day on the Dow, jumping over 3% to close at $63.13. UnitedHealth and Disney also posted solid gains. But it wasn’t all good news. Visa dropped more than 3%, making it the worst performer on the index. Tech giants Apple and NVIDIA also stumbled, falling more than 2% each, which weighed heavily on the overall market mood.
Inside the S&P 500, Applied Materials was the star player. The stock soared over 8% to hit an all-time high of $354.91. DexCom and Molina Healthcare also saw strong buying. However, Constellation Brands had a rough session, dropping over 8%, while Norwegian Cruise Line also sank significantly.
The NASDAQ saw some wild swings from smaller companies. Algorhythm Holdings skyrocketed an incredible 232%, reaching a new yearly high. JIA DA CORP also more than doubled in price. But not everyone got lucky; Rich Sparkle Holdings lost half its value in a single day, crashing 50%.
Outside of stocks, gold prices made headlines. Gold futures for April delivery surged over 2%, crossing the massive $5,052 mark per ounce. This indicates fear in the market as traders rush to safety. Meanwhile, crude oil remained relatively quiet, dipping slightly to sit just under $63 a barrel.
