US stock indexes were mixed on Friday as tech shares edged higher after Thursday's selloff. Brent crude rose to its highest in more than five months after Houthi attacks in Saudi Arabia, and French yields have risen nearly 27 bps this week.
Stock indexes were mixed on Friday, with tech shares edging higher after the previous day's selloff. The Nasdaq was up 0.2% after starting the day lower, while the Dow was last down about 1%.
Tech steadies after Meta report
An index of semiconductors was up about 1% after posting its biggest daily percentage drop since June on Thursday. A report from Meta Platforms reignited worries about the AI trade.
Art Hogan, chief market strategist at B. Riley Wealth, called it "a very volatile week", according to Reuters. He added that anxiety over the AI trade remains to a certain extent.
The Dow Jones Industrial Average fell 476.25 points, or 0.9%, to 52,391.73. The S&P 500 eased 0.14% to 7,652.96, and the Nasdaq Composite rose 0.21% to 26,062.75.
Oil climbs on Middle East supply fears
Houthi attacks in Saudi Arabia fanned fears over further disruption to energy supplies from the Middle East. US crude rose 2.56% to $102.02 a barrel, and Brent climbed to $116.27 per barrel, up 2.74%.
European natural gas prices also jumped.
French yields climb nearly 27 bps on the week
Treasury yields rose a day after the benchmark 10-year yield registered its biggest one-day drop in nearly four years. The 10-year yield was last up 3.7 basis points at 4.992%, but remained under 5%.
In Europe, French yields were down 5 basis points at 5.04% but have risen nearly 27 bps this week. The country faces the threat of a rating downgrade by Moody's later on Friday.
Source: Economy News
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