U.S. stocks traded lower on Friday, with the S&P 500 edging down as a sharp selloff in Intel weighed heavily on the broader technology sector. The weakness put Wall Street on track for a second consecutive weekly decline.
By 1:15 p.m. ET, the Dow Jones Industrial Average was down 374 points, or 0.8%. The S&P 500 slipped 0.1%, while the Nasdaq Composite rose 0.4%, supported by gains in select mega-cap names.
Although the major indexes posted rebounds on Wednesday and Thursday after steep losses earlier in the week, those gains were not enough to offset overall weakness, leaving markets poised for another negative weekly close.
Greenland trade signals lift sentiment
Market sentiment improved later in the week after U.S. President Donald Trump said his administration had reached a framework trade agreement related to Greenland. He also stated that tariffs would not be imposed on European nations to pressure Denmark over the territory.
Trump further eased investor concerns by backing away from previous threats to use force to seize the island, marking a notable shift from his stance the prior week. The change helped calm markets after earlier tariff rhetoric had fueled global uncertainty and triggered heavy selling in U.S. equities.
However, geopolitical risks remain elevated. Trump added to tensions by warning of potential military action against Iran, saying U.S. naval forces were moving toward the region and cautioning Tehran against violent crackdowns or renewed nuclear activity.
Intel earnings weigh on tech
In corporate news, Intel shares fell sharply after the chipmaker reported a fourth-quarter loss and issued a bleak outlook for the current quarter.
Despite recent support from major investors, including Nvidia and the U.S. government, Intel posted a net loss of $333 million for the final quarter of its fiscal year—worse than analysts had expected.
Company executives highlighted persistent supply constraints tied to booming demand from data centers that power advanced artificial intelligence models. Chief Financial Officer David Zinsner warned that these shortages could remain an industry-wide issue through 2026.
Investors are now looking ahead to a busy earnings week, with major technology firms such as Apple, Microsoft, Amazon, and Tesla all scheduled to report during the coming days.
Elsewhere, Nvidia shares advanced after reports suggested Chinese authorities had signaled to major tech firms that they could begin preparing orders for the company’s H200 AI chips, raising hopes that formal approval for imports may be imminent.
Shares of Intuitive Surgical climbed after the medical device maker exceeded profit and revenue expectations, driven by strong demand for its robotic surgery systems. Booz Allen Hamilton also moved higher after delivering better-than-expected quarterly results, as investors focused on resilient profitability despite softer revenue.
Fed meeting in focus
On the economic calendar, investors awaited January S&P PMI data and the University of Michigan’s consumer sentiment reading later Friday. However, these releases were not expected to materially influence markets ahead of next week’s policy meeting.
The Federal Reserve is widely expected to keep interest rates unchanged as uncertainty around U.S. economic growth persists.
Trump confirmed that he has completed interviews for the next Federal Reserve chair, narrowing the list of potential nominees to a mix of current officials and private-sector figures.
Gold hits record as oil rises
Gold prices surged to a new record on Friday, approaching the closely watched $5,000 per ounce level, as rising geopolitical tensions boosted demand for safe-haven assets.
Spot gold climbed to a record high of $4,967.48 an ounce, while February gold futures reached $4,969.69.
Oil prices also moved higher, with Brent crude rising 2.8% to $65.87 a barrel and U.S. West Texas Intermediate crude gaining 3% to $61.14. Both benchmarks were on track for weekly gains of just under 2%.
