The Dow Jones Industrial Average fell 0.4% in early Friday trading while chip and AI-linked names such as Advanced Micro Devices and Taiwan Semiconductor pushed higher. Oil, Treasury yields and bitcoin all climbed at the same time.
The Dow Jones Industrial Average fell 0.4% in early Friday trading, while the S&P 500 lagged 0.2% and the Nasdaq composite lost 0.1%. The small-cap Russell 2000 fell 0.9%, underperforming the broader market.
AI Chip Stocks Buck the Slide
Some notable artificial intelligence names continued to act well in bases or near buy points Friday. Advanced Micro Devices headed for its fourth day of gains, approaching an entry at 584.73 with a gain of 1%. Taiwan Semiconductor edged higher and moved up in a cup-with-handle base with a buy point of 444.29.
Other AI-linked names extended their runs too. Semtech extended a three-day rally with a gain of nearly 2%, a day after topping its 177.35 entry. Avnet, which supplies electronic parts to hyperscalers and data centers, held steady in a flat base with a pivot at 100.
Analysts also turned more bullish on the group. Needham upgraded Dynatrace to a buy rating from hold with a price target of $68, citing the company's position to meet demand for observability of artificial intelligence workloads. Dynatrace shares nevertheless reversed nearly 2% lower, taking a breather after a four-day rally, and sit in a buying range with an entry at 53.28.
Nasdaq-100 Splits Between Winners and Losers
Among Nasdaq-100 components, Alphabet and Lumentum rallied 3% and nearly 5%, respectively, making them some of the top performers just after the open. On the downside, Netflix and Palo Alto Networks declined nearly 6% and almost 2% in morning action.
Oil, Yields and Bitcoin Climb Together
Away from equities, West Texas Intermediate crude futures reversed from early losses to rise near $103.80 a barrel, on pace to snap a two-day losing streak. The 10-year Treasury yield rose six basis points to 5%, while bitcoin surged more than 5% to roughly $80,500.
Source: Investor's Business Daily
Trading involves risk.
Risk Disclaimer
