Stocks edged a bit lower on Wall Street on Friday as the first week of corporate earnings season ended with markets trading near record levels. The wobbly day for stocks closed out a week of similar movements for major indexes after profit reports from banks and updates on inflation.
- The Dow fell 83.11 points, or 0.2%, to 49,359.33, a decline of 0.3% for the week.
- The S&P 500 fell 4.46 points, or 0.1%, to 6,940.01, dropping 0.4% for the week.
- The Nasdaq fell 14.63 points, or 0.1%, to 23,515.39, falling 0.7% for the week.
Technology stocks were the strongest forces behind the market's moves throughout most of the day, the AP reports. Several big technology stocks made strong gains and helped offset losses elsewhere. Broadcom rose 2.5%, and Micron Technology rose 7.8%. The semiconductor companies are among several Big Tech companies with outsize valuations that often push the market higher or lower. A handful of regional banks reported their earnings following mixed reports from their larger peers. Pittsburgh's PNC jumped 3.8% after it beat Wall Street's fourth-quarter targets, but Regions Financial fell 2.6% after reporting results that missed forecasts.
The latest round of earnings updates from companies could help give Wall Street a better sense of how consumers are spending their money and how businesses are operating amid economic concerns brought on by inflation and tariffs. Results from the technology sector are being scrutinized by investors trying to figure out whether the high stock prices fueled by the craze around artificial intelligence are justified. "Despite the strong start to 2026, we would not be surprised if markets experience volatility in the coming weeks as fourth quarter earnings progress and the threat of escalating geopolitical tensions remains," wrote Doug Beath, global equity strategist at Wells Fargo Investment Institute, in a note to investors.
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