28.08.202613:32:33UTC+00US Stocks Trade Mixed

US stocks ended Friday mixed as technology shares pared back part of the prior session’s rally while most other sectors inched higher. The S&P 500 finished little changed, with a 150-point advance in the Dow offsetting a 0.7% decline in the Nasdaq 100. Marvell Technology fell nearly 8%, surrendering a portion of its monthly gains despite topping earnings forecasts and raising its outlook.

Semiconductor makers and companies tied to AI infrastructure broadly held onto their weekly advances after Nvidia indicated that demand for computing power is set to remain strong over the coming quarters. Meanwhile, Fed Chair Warsh was scheduled to speak at the Jackson Hole Economic Symposium against a backdrop of economic uncertainty and evident divisions within the FOMC.

Treasury yields remained elevated, extending their climb since the start of the quarter. Higher federal deficits and heavy corporate bond issuance have combined with Warsh’s messaging that tighter financial conditions emerging from secondary bond markets are both natural and may serve as a deliberate policy tool for the Federal Reserve.