From The Boston Globe · · 1m 20s
Wall Street Wins Week Despite Stock Drop
Wall Street ends a turbulent week with a weekly gain as AI stocks dip.
In brief
Wall Street ends a turbulent week with a weekly gain as AI stocks dip. U.S. stocks fell Friday but Wall Street posted a 2.5% weekly gain for the S&P 500, its first win since October. Originally reported by The Boston Globe.
Stocks Close Lower
U.S. stocks closed lower Friday as a pullback in big AI-focused companies weighed on the market.
S&P 500 Weekly Gain
The S&P 500 fell 0.4 percent but posted a 2.5 percent gain for the week, its first win since October.
Dow Jones Recovery
The Dow Jones Industrial Average recovered from an early slide and eked out a 0.1 percent gain.
Nvidia Leadership Shift
Nvidia CEO Jensen Huang resigned after an affair with a Chinese tech executive raised U.S. national security concerns.
Market Impact
Nvidia’s market cap dropped nearly $600 billion this week as AI stocks weighed on the market.
AI Stock Volatility
Broadcom fell 4.8 percent and Advanced Micro Devices lost 8.8 percent amid AI market swings.
Wholesale Inflation Report
Wholesale inflation cooled slightly but remains very high, with food prices rising.
Treasury Yields Rise
The 10-year Treasury yield rose to 5.15 percent as the Fed prepares for a rate hike in December.
Here's the gist
U.S. stocks fell Friday but Wall Street posted a 2.5% weekly gain for the S&P 500, its first win since October.
