The S&P 500 and the Nasdaq indices fell on Friday as artificial intelligence stocks came under pressure after Broadcom’s weak sales forecast fueled concerns about an AI bubble.
At 9:47 a.m. ET, the Dow Jones Industrial Average rose 154.56 points, or 0.31%, to 48,856.46, the S&P 500 lost 12.58 points, or 0.18%, to 6,888.92 and the Nasdaq Composite lost 119.55 points, or 0.51%, to 23,478.83.
Key Stock Movers
Broadcom shares tumbled 8.4% after the chipmaker warned of slimmer future margins on its AI system sales.
Advanced Micro Devices stock lost 1%.
Oracle stock extended its fall on Friday slipping by 2.3%. The cloud company recorded its biggest daily drop since January in the previous session.
Nvidia shares rose 0.3% after a report said the AI chip giant is evaluating a hike in H200 chip production to meet robust demand from China.
Lululemon Athletica stock soared 12% after the apparel maker raised its annual profit forecast.
Cannabis stocks rallied after a report said US President Donald Trump was looking to cut restrictions on marijuana through a planned order.
Canopy Growth climbed 23% and Tilray Brands surged 30%.