S&P and Dow Edge Higher, Heading for a Winning Week

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The AI-fueled rally lost steam in Friday’s afternoon trading, with the S&P 500 and the Dow Jones showing slight gains, while the Nasdaq turned red after reaching record levels earlier in the day. Wall Street experienced a significant surge in the previous session, driven by Nvidia’s strong quarterly results, propelling the chipmaker to surpass a $2 trillion valuation, after hitting a fresh all-time high of $805.55 earlier in the day. Shares of Carvana surged by 31.44% after the used cars e-commerce platform reported a narrower fourth-quarter loss. Conversely, Booking Holdings lost over 10% after the online travel company reported earnings that surpassed expectations but cautioned that tensions in the Middle East could impact its results in the current quarter. Warner Bros Discovery also experienced a decline of about 8% following a disappointing fourth-quarter revenue report. As of the week, the S&P 500 saw a gain of 1.6%, the Dow Jones rose by 1.2%, and the Nasdaq added 1.4%.

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