US stocks ended mixed on Friday, with the S&P 500 rising 0.1% while the Nasdaq 100 fell 1.2% and the Dow Jones Industrial Average gained 0.5%. The session marked the second consecutive weekly decline for major indices as investors assessed big-tech earnings amid heightened geopolitical developments. Oil prices rebounded from session lows following a Reuters report that Pakistan is considering establishing new peace negotiations between the US and Iran under a China-backed initiative, though elevated oil prices continued to affect investor sentiment ahead of the Federal Reserve policy meeting scheduled for next week.
US Stock Indices Post Mixed Performance on Friday
The S&P 500 ended 0.1% higher at 7,411.98, while the Nasdaq 100 slipped 1.2% to close at 28,128.34 and the Dow Jones Industrial Average ended 0.5% higher at 51,947.25. The Russell 2000, which tracks stocks with small market capitalizations, fell 0.1%.
Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) added 0.1%, and Invesco QQQ Trust (QQQ) ended Friday 1.1% lower, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 0.4%. The VanEck Semiconductor ETF (SMH) fell 3.2%, pulled down by weakness in Micron Tech (MU), Nvidia (NVDA), and Broadcom (AVGO). The broader Vanguard Information Technology ETF (VGT) fell 0.8%, tracking weakness in SpaceX (SPCX).
SpaceX dropped about 7% this week, its third consecutive weekly decline.
Oil Prices Rebound Following Pakistan Peace Negotiation Report
Oil prices rebounded from their session lows following a Reuters report that Pakistan is considering a path toward establishing new peace negotiations between the US and Iran, under an initiative pushed by China.
Earlier this week, Brent crude futures surged past the $100-per-barrel mark for the first time since late May, though they subsequently gave up those gains, sliding nearly 4% to settle at $96.78. Concurrently, US West Texas Intermediate futures experienced a 3% decline, ultimately closing at $89.31 per barrel. Oil prices, although they eased on Friday, still remain at elevated levels ahead of the Fed policy meeting due next week.
Paramount Freezes Warner Bros. Discovery Acquisition Until June 2027
Paramount Skydance (PSKY) agreed to freeze its proposed $110-billion acquisition of Warner Bros. Discovery (WBD), putting the media consolidation on hold until June 1, 2027, or until a federal court rules on an antitrust lawsuit seeking to block the deal.
Qualcomm Plans Double-Digit Price Increases Starting Late Summer
Qualcomm (QCOM), the world's leading supplier of smartphone processors, has informed clients that it will increase its component prices by double-digit percentages starting late this summer, citing unavoidable cost pressures across its global supply network.
Verizon Signs $1 Billion Fiber Infrastructure Deal With Google
Verizon Communications (VZ) signed a fiber infrastructure agreement with Alphabet Inc.'s (GOOG, GOOGL) Google worth more than $1 billion, as the telecom giant looks to capitalize on surging demand for data center connectivity driven by artificial intelligence.
Intel and Lens Technology Form Glass Substrate Packaging Partnership
Intel Corporation (INTC) and Lens Technology entered a strategic partnership to develop glass substrate-based semiconductor packaging.
Waymo Explores Ending Uber Robotaxi Partnership
Alphabet Inc.'s (GOOGL) Waymo is exploring options to end its robotaxi partnership with Uber Technologies (UBER).
FAQ
What caused US stocks to end mixed on Friday?
US stocks ended mixed on Friday as investors assessed big-tech earnings amid heightened attention on geopolitical developments. The S&P 500 rose 0.1%, the Nasdaq 100 fell 1.2%, and the Dow Jones Industrial Average gained 0.5%, marking the second consecutive weekly decline for major indices.
Why did oil prices rebound from their session lows?
Oil prices rebounded from their session lows following a Reuters report that Pakistan is considering a path toward establishing new peace negotiations between the US and Iran, under an initiative pushed by China. Brent crude settled at $96.78 per barrel and US West Texas Intermediate closed at $89.31 per barrel.
When will Paramount's acquisition of Warner Bros. Discovery close?
Paramount agreed to freeze its proposed $110-billion acquisition of Warner Bros. Discovery until June 1, 2027, or until a federal court rules on an antitrust lawsuit seeking to block the deal.
