14.08.202613:35:52UTC+00S&P 500 Holds Recent Rise

US stock indices were little changed on Friday as optimism from recent technology earnings was offset by ongoing macroeconomic concerns. The S&P 500 was essentially flat, holding near its record high, while the Nasdaq 100 and the Dow also traded in a narrow range.

Semiconductor stocks extended their strong gains from earlier in the week. Sandisk rose more than 5% after surging 14% in the previous session, and Micron advanced 4% on the back of upbeat analyst and broker recommendations. The latest wave of long positions in AI infrastructure was further supported by signs of increased capital spending by hyperscalers, with both OpenAI and Anthropic reportedly targeting IPOs this year; Anthropic also moved to acquire Decart.

At the same time, inflation risks sustained expectations that the Federal Reserve could still raise interest rates this year. President Trump indicated that economic pressure on Iran would be prolonged, effectively constraining oil exports from the region. Industrials and banks continued to lag the broader market, and Applied Materials fell 5% despite posting results that beat forecasts.