Due to a two-day decline in Nvidia shares, the S&P 500 saw a modest decline on Friday, following a brief rise above 5,500 for the benchmark of the whole market.
Both the Nasdaq Composite and the broad market index saw declines of 0.3% and 0.2% respectively.
Surpassing by 60 points, or 0.1%, was the Dow Jones Industrial Average. In the early going, Nvidia’s stock was down over 3.5 percent.
Before ending more than 3% lower on Thursday, the stock reached an all-time high.
The semiconductor manufacturer has nonetheless increased its value by more than 150% year to date, and on Tuesday it momentarily surpassed Microsoft to become the most valuable public business.
Though it ended the day with a loss, the S&P 500 is expected to rise 0.6% this week after reaching an intraday high of 5,505.53. As the Nasdaq is pace for a 0.1% weekly loss, but the Dow is doing better than expected, boasting a 1.6% weekly gain.
Source (CNBC)
