The S&P 500 rose on Friday, bolstered by a couple of Big Tech names, to notch a weekly gain.
The Dow Jones Industrials gained 149.72 points to 52,637.13.
The much broader index took on 31.61 points to close at 7,575.24.
The NASDAQ Composite increased 74.72 points to 26,281.61.
Chip stocks were weak as South Korean chipmaker SK Hynix made its U.S. debut Friday, opening at $170 on the NASDAQ and last trading up around 15%.
The American depository receipts of the company, which exploded higher this year on the massive demand for memory, were priced at $149 each. Some traders worry the new offering may compete for investor funds with U.S. memory stocks like Micron Technology.
Micron shed more than 2%, while Marvell Technology and Intel dropped more than 3%. Shares of Lam Research fell more than 1%.
Nvidia supported the S&P 500's move higher, rising more than 3%. Meta Platforms was another bright spot in tech, as the stock jumped 6% and was on pace for its best week since early 2024.
That’s after Bank of America maintained its buy rating of the name and said an internal memo that was reviewed by Reuters suggests that Meta is potentially improving its artificial intelligence cost structure.
Prices for the 10-year Treasury dipped, raising keeping yields to 4.56% from Thursday’s 4.55%. Treasury prices and yields move in opposite directions.
Oil prices faded 46 cents to $71.62 U.S. a barrel.
Gold prices retreated $27.20 to $4,113.60 U.S. an ounce.
