Major U.S. equities indexes were mixed to close out the trading week. The sluggish performance for the stock markets on Friday came amid reports that existing home sales and the Conference Board’s Leading Economic Index declined in May.
The S&P 500 edged 0.2% lower, while the Nasdaq also fell 0.2%, while the Dow eked a slight gain of less than 0.1%.
Shares of Nvidia (NVDA) and other chipmakers that have been major beneficiaries of the artificial intelligence (AI) boom were among the weakest performers on Friday, as the recent rally fueled by expectations for AI technology faltered near the end of the week. Chipmaker Broadcom (AVGO) suffered the heaviest losses of any S&P 500 stock, with shares dropping 4.4%. Nvidia (NVDA) and Micron Technology (MU) shares sank 3.2%.
Shares of Resmed (RMD), which makes medical devices to treat sleep apnea and other medical conditions, fell 3.5%. Analysts reportedly noted that …