US Equity Indexes Rise This Week as Mag-7 Gains Help Offset Chipmakers-Led Decline in Technology
() -- US equity indexes rose this week as gains in communication services and consumer cyclicals helped offset declines in technology, and crude oil extended declines amid continuing progress in Iran peace talks. * The S&P 500 closed at 7,483.24 on Friday versus 7,354.02 a week ago. The Nasdaq Composite stood at about 25,832.67, compared with 25,297.62 a week earlier. The Dow Jones Industrial Average ended at 52,900.07, versus 51,876.11 at the end of last week. * Health care, communication services, and consumer cyclicals led sectors, while energy, utilities, and technology lagged. Within tech, chipmakers retreated, and Micron Technology was among the steepest decliners. * All but one Magnificent-7 firm ended the week higher, with Nvidia (NVDA) being the exception. Of the remaining six, four were in the top 10 of companies with a market capitalization of over $200 billion each. Apple (AAPL) led the Mag-7 pack, with a weekly gain of 12%. * The Doha discussions produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said, according to a.
() -- US equity indexes rose this week as gains in communication services and consumer cyclicals helped offset declines in technology, and crude oil extended declines amid continuing progress in Iran peace talks. * The S&P 500 closed at 7,483.24 on Friday versus 7,354.02 a week ago.
The Nasdaq Composite stood at about 25,832.67, compared with 25,297.62 a week earlier.
The Dow Jones Industrial Average ended at 52,900.07, versus 51,876.11 at the end of last week. * Health care, communication services, and consumer cyclicals led sectors, while energy, utilities, and technology lagged.
Within tech, chipmakers retreated, and Micron Technology was among the steepest decliners. * All but one Magnificent-7 firm ended the week higher, with Nvidia (NVDA) being the exception.
Of the remaining six, four were in the top 10 of companies with a market capitalization of over $200 billion each.
Apple (AAPL) led the Mag-7 pack, with a weekly gain of 12%. * The Doha discussions produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said, according to a.