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The S&P 500 was relatively unchanged on Friday after a strong Wall Street session that put the index on track for weekly gains. The Dow Jones Industrials gained 91.91 points to 52,574.67.
The much broader index eked up 10.02 points by noon EDT to 7,553.66.
The NASDAQ Composite slid 6.28 points to 26,200.61.
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%.
Meta Platforms was a bright spot in tech during the session, however. The stock jumped 6% after Bank of America maintained its buy rating of the name. The firm 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 were stationery, keeping yields at Thursday’s 4.55%.
Oil prices lost 95 cents to $71.13 U.S. a barrel.
Gold prices descended $27.00 to $4,113.80 U.S. an ounce.
