- U.S. stocks finished mixed-to-lower on Friday as Nvidia’s slide weighed on tech, CNBC reported. The S&P 500 fell 0.4% to 7,561.67 and the Nasdaq Composite shed 0.91% to 25,136.27, while the Dow Jones Industrial Average rose 50.46 points, or 0.1%, to 52,347.55. By our calculation, the Nasdaq fell more than twice as fast as the S&P 500.
- Even so, the major averages scored their best week since August, CNBC said in its outlook for next week, and the S&P 500 technology sector was higher by more than 2%, snapping a five-week slump. Nvidia ended the week down about 13%, a smaller drop than the 20% or more some investors had feared after CEO Jensen Huang resigned on Thursday.
- The Friday tape was uneven inside tech. Apple shares climbed nearly 1%, reaching an intraday record of $360.80 and lifting the company’s market value above $5.2 trillion, as investors looked for shelter from the AI sell-off, CNBC said. A swath of AI-infrastructure names tumbled, with Dell, Advanced Micro Devices, Nebius and CoreWeave falling around 10%, Coherent losing more than 9% and Sandisk dropping 8%.
- Cisco slid 6% a day after beating fiscal first-quarter estimates and raising guidance, though CNBC said the stock was still heading for a 2% gain on the week. Broadcom fell 5% after Rothschild & Co. Redburn downgraded it to neutral from buy. Bitcoin traded as low as $67,632.68, its weakest since Aug. 19, according to Coin Metrics data cited by CNBC, and the dollar index reached its highest level since April 2025.
What Happened?
Friday was the first full cash session after Huang resigned as Nvidia’s chief executive and the board named finance chief Colette Kress interim CEO. The three major averages had opened higher, with the Dow up 208 points, or 0.4%, just after the open, before the S&P 500 and Nasdaq gave back those gains. Wholesale prices rose 0.3% in October, less than the 0.4% forecast, but the annual producer-price rate hit 6.5%, and the 10-year Treasury yield stayed above 5%. Mortgage real estate investment trusts were under pressure: the iShares Mortgage Real Estate ETF dropped 1.3%, hit its lowest level since April 2020 and was headed for a fourth straight daily loss, CNBC said.
Why It Matters?
The split between a soft Friday and a still-positive week is the story investors will take into next week’s tests. A 0.91% Nasdaq decline concentrated in AI-linked names, alongside Apple’s record, shows the market is rotating away from the most debt-heavy parts of the build-out rather than abandoning technology altogether. CNBC quoted Nationwide’s Mark Hackett as saying the Nvidia story is now “idiosyncratic” and that the market has shown it can withstand a painful move in a single tech heavyweight. That reading will be tested quickly: Nvidia reports on Tuesday and Anthropic is due to price its IPO midweek.
What’s Next?
The calendar next week is heavy. Besides Nvidia’s results after Tuesday’s close, CNBC flagged October retail sales, industrial production, housing starts and the Federal Reserve’s meeting minutes, plus earnings from Home Depot, Disney, Walmart, Target and Lowe’s. Anthropic is expected to price Wednesday in a $70 to $78 range and start trading Thursday on the Nasdaq under the ticker ANT. How those events land will show whether Friday’s AI-infrastructure sell-off was a one-day shakeout or the start of a deeper reset.
Affected Tickers and Coins: SPY, QQQ, DIA, NVDA, AAPL, AMD, AVGO, CSCO, Bitcoin
