Wall Street opens mostly higher, but tech keeps indexes headed for a weekly loss
Chips and AI names slid again in early trading.
Wall Street opened mostly higher on Friday, but another slide in big tech and chip stocks kept the major indexes on course for a weekly loss, per AP. In early trading the S&P 500 edged up 0.1%, still a bit below the record it set last week. The Dow Jones Industrial Average added 291 points, or 0.6%, and the Nasdaq composite fell 0.4% (AP).
Chips and AI names stay under pressure
AP said Micron Technology fell 3% and Intel lost 2%, and that the yield on the 10-year Treasury rose to 5.13%. Before the open, CNBC said the S&P 500 was down 0.9% for the week and the Nasdaq down 2.4%, and Yahoo Finance said the Dow was on pace to finish the week up roughly 1%. Quartz and CNBC reported the VanEck Semiconductor ETF was off 7.4% on the week.
Reuters said CoreWeave shares dipped 4.1% in premarket trading and were headed for a steep weekly loss as investors worried about the debt behind the AI build-out while borrowing costs rise. Reuters said the shares were down more than 15% on the week as of Thursday's close, and that rival Nebius fell 1.5% in the morning. CNBC said Tesla was higher premarket after unveiling a redesigned Roadster. Figures in this story are early-session readings and will change through the day.
Earlier today: First Light and Toast & Tickers.
