The US stock market today showed muted movement on Friday as Wall Street headed toward the end of a strong week. The S&P 500 traded near the flatline, while the NASDAQ Composite and Dow Jones Industrial Average also moved in a narrow range.
The S&P 500 is on pace for a weekly gain of nearly 1%, while the NASDAQ Composite is set to rise more than 1%. The Dow Jones index has lagged, with a weekly loss of less than 1%.
The S&P 500 traded 0.1% higher on Friday as investors assessed a sharp rally from the previous session. The NASDAQ Composite moved around the flatline, while the Dow Jones Industrial Average gained 61 points, or 0.1%.
Thursday’s rally came as oil prices cooled and investors looked past renewed Middle East concerns. President Donald Trump said Iran had called to make a deal, while officials from Qatar and Pakistan are working to restart talks between Washington and Tehran.
An administration official said both sides will hold ‘technical talks’ despite recent air attacks. “The muted stock market reaction to the re-escalation of Iran tensions this week is prime evidence that the market is looking past geopolitical tensions,” said Clark Bellin, president and chief investment officer at Bellwether Wealth.
Chip stocks traded lower ahead of SK Hynix’s US market debut on the NASDAQ. The South Korean memory-chip maker priced its American depositary receipts at $149 each and raised $26.5 billion through the offering. Reuters reported that the listing shows strong investor demand for a major supplier in the AI chip supply chain.
Micron Technology fell around 3%, while Marvell Technology and Lam Research lost more than 1%. Intel dropped nearly 3%, and Broadcom also traded lower. The iShares Semiconductor ETF declined 1.2%, while the VanEck Semiconductor ETF lost 0.8%.
Some traders are watching whether SK Hynix’s new US listing draws funds away from American memory stocks. The company’s debut comes as demand for high-bandwidth memory stays tied to artificial intelligence spending.
Meta Platforms stood out among large technology stocks. The stock rose nearly 6% on Friday and extended its five-session advance to more than 14%. The move placed Meta on track for its strongest weekly gain since February 2024.
Bank of America kept its buy rating on Meta after reviewing details tied to the company’s AI infrastructure plans. Reuters reported that Meta plans to begin production of an in-house AI chip in September as part of a broader plan to double computing capacity.
“Meta may have engineered significant cost savings to get capacity cost per MW well below our and Street expectations,” Bank of America analyst Justin Post wrote. The firm also pointed to positive market reception for Meta’s latest AI model work.
Circle Internet Group shares rose sharply after the stablecoin issuer received final approval from the US Office of the Comptroller of the Currency to establish a national trust bank. Reuters reported that Circle’s shares rose after the approval, which moves the company further into the regulated US banking system.
Circle said the approval allows it to operate under federal oversight. The company said the structure supports its USDC infrastructure and adds federally regulated custody, while reserve management is planned as a future capability.
The stock gained more than 12% in early trading. The move added a crypto-linked name to Friday’s list of market movers, even as broader indexes traded in a tight range.
The US stock market also reflected a wider gap between equities and the economy. The S&P 500 rose nearly 10% in the first half of 2026, while the Dow Jones Industrial Average gained almost 9% over the same period.
Meanwhile, economists say US growth has slowed. Joe Seydl, senior markets economist at J.P. Morgan Private Bank, said, “I think there’s this widespread perception the two should be in sync.” He added, “But, from a purely analytical perspective, they’re two very different phenomena.”
AI-linked companies have played a large role in the stock market’s rise. Technology stocks account for a large share of the S&P 500, while consumer spending drives most of the US economy.
Mark Zandi, chief economist at Moody’s, said the economy is still growing but at a slower pace. ‘We’re growing. We’re not in recession,’ Zandi said. ‘But we’re not going anywhere quickly.’
For Friday’s session, investors stayed focused on weekly gains, chip stock weakness, Meta’s rally, Circle’s bank approval, and the first trading day for SK Hynix in the United States.
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