24.07.202613:34:27UTC+00US Equities Muted on Friday

US equity indices were little changed on Friday, extending the previous session’s losses as investors weighed corporate earnings against the risk of higher interest rates. The S&P 500 was essentially flat, while the Nasdaq 100 edged lower and the Dow Jones Industrial Average ticked higher.

Crude oil and refined product prices eased on the day but remained sharply higher for the week, as intensifying strikes between Iran and the US disrupted tanker traffic through the Persian Gulf and the Red Sea. Treasury yields moved in tandem with energy prices, with part of the market positioning for a potential Federal Reserve rate hike next week.

In corporate news, Intel slipped nearly 1% despite reporting its strongest revenue growth in 17 years, as the stock continued to reflect volatility in the semiconductor space following the sharp run-up in chipmakers’ valuations since the second quarter. American Express fell 5% after releasing its earnings. By contrast, Verizon rose about 2% after reporting stronger-than-expected subscriber growth.

For the week, the Nasdaq 100 was on track to close 0.5% lower, pressured by investor concerns over possible AI-related overspending by hyperscale cloud providers. Since last Friday, Tesla has declined 16%, Alphabet 9%, and Meta 7%.