The NASDAQ Composite fell on Friday, bogged down by chip stocks, as the index headed for a losing week.
The Dow Jones Industrials popped 364.58 points to 52,076.40.
The S&P 500 improved 40.1 points to 7,448.40
The NASDAQ Composite climbed out of its cave, gaining 5.32 points to 25,143.02
The NASDAQ is now on pace for a weekly loss, declining 2% in the period. The Dow and S&P 500 are also tracking for a losing week, as both have each shed less than 1% week to date.
Intel shares fell 4%, reversing course from earlier gains after the chipmaker’s second-quarter results exceeded Wall Street’s expectations.
Other chipmakers slid alongside it, with Broadcom and Advanced Micro Devices each down 2%.
U.S. President Donald Trump said he will soon make a decision on whether to launch a “massive attack” on Iran after the conflict in the Middle East extended to a new battleground in the Red Sea.
Speaking to Axios on Thursday, the president said the proposed strikes would be bigger than anything seen in the war so far, and that Iran has not “received enough pain yet.”
Prices for the 10-year Treasury gained ground, lowering yields to 4.66% from Thursday’s 4.7%. Treasury prices and yields move in opposite directions.
Oil prices dipped $4.22 to $87.97 U.S. a barrel.
Gold prices gained $28.30 to $4,078.50 U.S. an ounce.
