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US Stocks Today | S&P 500 ends up slightly as tech dips, inflation cools
The S&P 500, the Nasdaq and the Dow all declined for the week with technology stocks on a roller-coaster ride due to uncertainty about the extent to which profits could be disrupted due to AI competition and the hefty spending needed to support the technology.
Equities had started the session strong after data showed U.S. consumer prices increased less than expected in January. This prompted traders to slightly raise the chance of a 25 basis point interest-rate cut in June to 52.3% from 48.9%, according to the CME Group’s FedWatch tool.
But heavyweight technology and communications services ended the session lower as investors were jittery ahead of Monday’s U.S. holiday for Presidents Day.
“Large cap tech stocks continue to be an anchor on the market and any whiff of optimism continues to get rejected,” said Michael James, managing director, at Rosenblatt Securities, Los Angeles.
“We’ve been on wobbly legs a couple of weeks now and with the three-day weekend approaching, it’s not surprising to roll over into the end of the day.”
The Dow Jones Industrial Average rose 48.95 points, or 0.10%, to 49,500.93, the S&P 500 gained 3.41 points, or 0.05%, to 6,836.17 and the Nasdaq Composite lost 50.48 points, or 0.22%, to 22,546.67. For the week, the S&P 500 fell 1.39%, the Nasdaq declined 2.1%, and the Dow fell 1.23% for their biggest weekly losses since November. Equity markets have pulled back from record levels recently as AI fears fueled worries in sectors spanning from software and insurance to trucking companies. However, the S&P 500 software and services index closed up 0.9% on Friday while the S&P 500 tech sector fell 0.5%.
Despite improving inflation trends, Phil Orlando, chief market strategist at Federated Hermes, predicted more choppy trading ahead as investors deal with the looming U.S. midterm elections in November and the expected replacement of Fed Chair Jerome Powell by Kevin Warsh in May.
Historically when a Fed leadership transition happens in a midterm year, the market has hit a “double-digit air-pocket every time that’s occurred,” Orlando said.
Megacap tech stocks were weak with Nvidia and Apple Inc providing the biggest drags to the S&P 500 while Applied Materials provided the strongest boost.
Defensive utilities ended up 2.69% and real estate added 1.48%, making them the top gainers among S&P 500’s 11 major industry indexes. Healthcare was also a boost with Dexcom rising 7.6% and Moderna rising 5.3% after both companies’ fourth-quarter earnings reports impressed.
Applied Materials shares jumped 8.1% after the chipmaking-equipment firm forecast second-quarter revenue and profit above Wall Street expectations. Networking equipment provider Arista Networks gained 4.8% during the session after forecasting annual revenue above expectations.
White House trade adviser Peter Navarro said there was no basis to reports that the administration was planning to reduce steel and aluminum tariffs.
Still, some steelmakers came under pressure with Nucor falling just under 3% and Steel Dynamics slipping 3.9%. Also aluminum producer Alcoa fell 0.9% while Century Aluminum shares tumbled 7.4%.
Advancing issues outnumbered decliners by a 2.57-to-1 ratio on the NYSE where there were 392 new highs and 93 new lows. On the Nasdaq, 3,156 stocks rose and 1,646 fell as advancing issues outnumbered decliners by a 1.92-to-1 ratio.
The S&P 500 posted 34 new 52-week highs and 6 new lows.
On U.S. exchanges 18.61 billion shares changed hands compared with the 20.75 billion moving average for the last 20 sessions.
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The AI Gold Rush Is Breaking a Silicon Valley Taboo: Cashing Out Before the IPO
On Friday, MCX silver futures for March 5, 2026 rose 3.62%, up Rs 8,564 to Rs 2,44,999 per kg. Gold futures for April also edged higher by Rs 305, or 0.2%, to Rs 1,56,200 per 10 grams.
In international commodity markets, precious metals rebounded sharply after the previous session’s selloff, with spot silver rising 2.1% to $77.27 per ounce, recovering from an 11% plunge a day earlier. Spot gold also advanced 2.33% to $5,063 and is now up more than 1% for the week. The recovery comes after bullion dropped nearly 3% on Thursday, slipping to its lowest level in almost a week.
The U.S. Consumer Price Index rose 0.2% in January, below economists’ expectations of a 0.3% increase, following an unrevised 0.3% gain in December, the Labor Department said.
Gold, silver levels for Monday
MCX Gold continues to exhibit structural resilience despite global consolidation, supported by relative firmness in USD/INR. The Rs 1,50,000 support band remains a strong demand absorption zone, attracting both physical buying and investment flows, reinforcing the integrity of the medium-term rising channel.
“Price behavior at lower levels indicates accumulation rather than distribution. A sustained move above Rs 1,60,000 would likely re-ignite bullish momentum toward Rs 1,65,000–Rs 1,70,000+, while meaningful downside risk remains limited unless COMEX gold breaches its structural support clusters decisively,” Ponmudi R, CEO of Enrich Money said. MCX Silver continues to build a durable base within the Rs 2,33,000–Rs 2,35,000 structural support zone. Price action reflects gradual absorption, with downside momentum notably weaker compared to the prior week’s volatility spike. Volatility compression at these levels signals accumulation rather than liquidation.
A decisive breakout above Rs 2,65,000 would likely attract momentum participation, targeting Rs 2,80,000+ in the medium term, supported by tightening global supply dynamics and steady industrial offtake.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
In the past 24 hours, Bitcoin and Ethereum went up 3.73% and 5.51% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid gained upto 8%. The global crypto market capitalisation went up 3.52% to $2.36 trillion, according to CoinMarketCap.
Also Read | HDFC Defence Fund exists this small cap stock that went up by 500% in 5 yearsRiya Sehgal, Research Analyst, Delta Exchange said Bitcoin has recovered to around $68,800, holding above its short-term support but still capped below the 50-day EMA near $69,500 and Ethereum mirrors this setup, hovering around $2,050 and consolidating between $1,950 and $2,100.Sehgal further said that broader sentiment remains cautious as traders assess macro liquidity conditions and capital rotation into traditional safe-haven assets such as gold. The market appears to be transitioning from distribution toward early accumulation, but conviction remains fragile pending a clear breakout above key technical levels
In the past week, Bitcoin and Ethereum were down by 2.66% and 1.31% respectively. Among the major altcoins, XRP, BNB, Solana, Dogecoin, Cardano, and Hyperliquid went down over 6% whereas Tron gained 2.50%.
Also Read | Starting out in mutual funds? Here’s how to allocate your investmentsNischal Shetty, Founder, WazirX said Bitcoin trades at $68,882, holding steady as global macro catalysts begin to align. January CPI data showed US inflation moderating to 2.4%, easing inflation concerns. When inflation concerns cool, it reduces uncertainty around aggressive rate hikes and brings stability back into risk assets, including crypto.
Ethereum also reclaimed the $2,000 level after a significant drop in futures open interest, indicating that further excessive leverage has been flushed out, Shetty further said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Commerce Bancshares EVP Barth sells $410k in stock
Trucking and transport stocks had one of their worst days ever Thursday thanks to a firm that until recently was in the karaoke business.
The Florida firm, formerly the Singing Machine Co. RIME 222.22%increase; green up pointing triangle and now known as Algorhythm Holdings, published a news release shortly before stock trading opened touting AI technology capable of increasing trucking efficiencies. Algorhythm, which has a stock market value of less than $3 million, hasn’t landed any software clients in the U.S. yet. But its announcement nonetheless rattled the market.
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Terex corp president Virnig sells $1m in shares
TotalEnergies: LNG Exposure And AI Power Demand Offer Structural Growth
VanEck is a global asset management firm offering ETFs, mutual funds, private funds, model portfolios, institutional strategies, separately managed accounts, as well as UCITS funds. Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission. VanEck has a long history of looking beyond financial markets to spot trends that create meaningful investment opportunities. We were one of the first U.S. asset managers to give investors access to international markets, which set the tone for identifying asset classes and themes such as gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 that later helped shape the investment industry. The firm oversees $161.7 billion in assets as of September 30, 2025. Disclosures: http://ow.ly/SZ9450N5qTJ.
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