LIVE MARKETS-Stocks end week on a sour note
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STOCKS END WEEK ON A SOUR NOTE
Stocks ended broadly in the red on Friday after Broadcom AVGO.O warned of slimmer future margins, sending its shares down 11% and reigniting concerns about the profitability of surging AI investments.
Concerns about lofty valuations of stocks that have been boosted by AI optimism have been an ongoing theme in recent weeks, while stocks are also losing momentum from investors closing down their books for year-end.
Tech .SPLRCT was the weakest S&P 500 subsector, ending down 2.9%, and the Nasdaq Composite IXIC was the worst performing major index with a 1.7% loss.
Rising Treasury yields didn’t help on Friday as a roster of Federal Reserve officials expressed caution over further rate cuts as inflation remains elevated.
The U.S central bank on Wednesday cut rates by 25 basis points and was interpreted as being less hawkish than markets had expected.
Here is Friday's closing market snapshot:
(Karen Brettell)
EARLIER LIVE MARKETS POSTS
TOP EARNERS SPENDING MORE WHILE LOWER INCOMES MORE SELECTIVE CLICK HERE
IS WEAKENING JOBS MARKET A PRODUCT OF UNCERTAINTY, AI, OR BOTH? CLICK HERE
INDIVIDUAL INVESTOR OPTIMISM EDGES HIGHER - AAII CLICK HERE
STOCKS MIXED AS BROADCOM RAINS ON AI PARADE CLICK HERE
GOLDMAN SAYS MEGA-CAP TECH TO DRIVE NEARLY HALF OF S&P 500 EPS GROWTH IN 2026 CLICK HERE
UK GOVERNMENT BONDS TO BE TOP PERFORMER IN 2026, BCA RESEARCH SAYS CLICK HERE
AI SUCCUMBS TO GRAVITY IN DECEMBER CLICK HERE
HOTEL STOCKS TO OUTPERFORM CONSUMER SECTOR IN 2026 SAY JEFFERIES CLICK HERE
STRONG START CLICK HERE
EUROPE BEFORE THE BELL: BACK NEAR RECORD HIGHS CLICK HERE
MORNING BID COPPER EDGES PAST SILVER TO TAKE GOLD CLICK HERE
Monitor
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