Markets
Luke Kawa

S&P 500 ends week with modest gain even as semiconductor slump continues

US stocks ended Thursday with modest gains despite slumping in the last hour of trading on more reports that President Donald Trump is itching to fire Fed Chair Jerome Powell. The S&P 500 rose 0.1%, the Nasdaq 100 was flat, and the Russell 2000 gained 0.9%.

It was a decent end to another tumultuous week of trading. (Markets are closed tomorrow for Good Friday.)

Energy and consumer staples were the top two S&P 500 sector ETFs, while tech and healthcare were the lone two to end the session in the red. Nvidia continued to see heavy selling pressure following enhanced restrictions on exports to China.

UnitedHealth was by far the biggest negative for the market to grapple with on Thursday, falling over 20% after cutting its 2025 outlook. Elsewhere in the healthcare space, Eli Lilly rose double digits after its weight-loss pill orforglipron succeeded in early trials.

Alphabet dipped after partially losing an advertising technology antitrust case, with penalties to be determined.

Palantir rose, as the AI software and defense company continues to see heavy buying from retail traders.

Bill Ackman’s big investment in Hertz didn’t just fuel a massive one-day gain in the stock, but rather two. Competitors in the space like Avis also caught a bid, as well.

While TSMC initially surged after posting an earnings beat along with second-quarter guidance that exceeded analysts’ expectations, that rally fizzled out over the course of the day.

Trump Media & Technology Group jumped double digits amid management’s call for the SEC to immediately investigate what it alleges is “suspicious trading” relating to a massive short position in the stock announced this week.

Update: A prior version of this piece incorrectly stated that the S&P 500 finished higher this week. Stocks were up relative to one week ago, but down relative to last Friday’s close.

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