S&P 500 goes nowhere, lingers just short of record highs
The S&P 500 was little changed on Friday while the Nasdaq 100 posted a decent gain and the Russell 2000 retreated modestly. For the week, however, it was a strong showing, with the benchmark US stock gauge up 1.5%.
More stocks in the S&P 500 fell than rose on the day.
Healthcare was the worst-performing S&P 500 sector ETF on Friday, followed by consumer staples. Communication services and tech (home to most of the Magnificent 7) did the best.
The best stock in the S&P 500 was Airbnb, which posted robust quarterly results thanks to strong demand for international travel.
Roku was another standout gainer, up double digits after posting a smaller-than-expected quarterly loss on better-than-projected revenues.
Shares of Moderna initially plunged after the drugmaker posted a larger quarterly loss than anticipated, but rebounded with a vengeance to post a big gain.
Coinbase, on the other hand, slumped despite posting blowout fourth-quarter earnings.
GameStop spiked after the close on Thursday after a report that it was considering holding bitcoin on its balance sheet, but pared most of those gains amid elevated options activity on Friday.
Dell caught a decent bid following a report that it’s close to reaching a $5 billion deal to sell servers to xAI.
Retail favorite SoundHound plummeted after a filing showed that Nvidia sold its stake in the company.