U.S. equities were mixed on Friday, as the NASDAQ Composite was poised to extend its latest gains amid easing geopolitical fears while the S&P 500 and Dow Jones Industrial Average underperformed.
The 30-stock index capsized 285.30 points to 49,098.71
The much-broader index inched forward 2.26 points to 6,915.61.
The NASDAQ raced 65.23 points to 23,501.24.
The 30-stock Dow is lower by 0.5% on the week. The S&P 500 is on track for it second negative week in a row, down 0.3%, while the NASDAQ has climbed 0.1%.
Shares of Nvidia and Advanced Micro Devices were among those supporting the two indexes’ advances, climbing more than 1% and more than 2%, respectively.
The moves come as sources told the media that Nvidia CEO Jensen Huang is planning to visit China in the coming days. Other tech names like Microsoft saw a boost as well.
Intel shares, in contrast, tumbled 17% after the chipmaker reported a disappointing first-quarter outlook.
The three major averages rallied for a second session on Thursday as investors were appeased by news of easing trade tensions and geopolitical risk.
The three major averages rallied for a second session on Thursday as investors were appeased by news of easing trade tensions and geopolitical risk.
The president’s move came after Trump announced that he and NATO Secretary General Mark Rutte reached a “framework of a future deal with respect to Greenland.”
Prices for the 10-year Treasury showed more strength, lowering yields to 4.23% from Thursday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices recovered $1.90 to $61.26 U.S. a barrel.
Gold prices leaped $71.40 to $4,984.80.
