The main U.S. stock indices rose during these moments of trading this Friday, supported by gains in the technology sector, but the indices are still on track to record their first weekly decline in four weeks.
The S&P 500 index rose by 0.4%, while the Nasdaq Composite index increased by 0.8%. As for the Dow Jones Industrial Average, it remained trading near a stable level without significant change.
At the same time, gold prices recorded significant declines during Friday's trading, continuing the substantial losses seen on Thursday, following the stronger-than-expected U.S. Producer Price Index (PPI) report.
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The market capitalization of Broadcom (NASDAQ: AVGO) reached around one trillion dollars, as its shares rose by more than 21% after announcing adjusted earnings for the fourth quarter that exceeded expectations, along with a report showing a 220% growth in artificial intelligence revenues over the year. Shares of Micron Technology (NASDAQ: MU) and Nvidia (NASDAQ: NVDA) also gained, following Broadcom's strong performance during the morning trading session.
These movements come after a session of losses on Wall Street on Thursday, where the 30-stock Dow Jones index fell by 234 points, or about 0.5%, marking its sixth consecutive day of decline, the longest losing streak since April. The Nasdaq Composite Index also fell by nearly 0.7%, dropping below the 20,000-point level, due to the decline in technology stocks like Nvidia, while the S&P 500 Index fell by about 0.5%.
Stock movements
Lucid Motors (NASDAQ:L CID) shares are down about 1.4% to $2.5 during today's trading.While Canon's stock (OTC: CAJPY) drops by about 1%, NIO's stock (NYSE: NIO) declines by approximately 2.5%.
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Gold futures are now down by 1.1% to $2,679 per ounce.
Meanwhile, spot gold contracts are falling by 0.77% to a level of $2660 per ounce.
On the other hand, dollar index futures are rising by 0.1% to a level of 106.75 points.
Meanwhile, Brent crude contracts rise by 1% to the level of $74.14 per barrel.
Meanwhile, West Texas Intermediate crude contracts rise by 1.2% to $70.88 per barrel.
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