Wall Street mixed, Dow at new record highs

US stock indices showed mixed performance during Friday’s trading, as investor concerns returned over technology stocks, particularly companies linked to artificial intelligence.

This followed disappointing earnings results from both Oracle and Broadcom, which pointed to a slowdown in generating returns from their massive investments in artificial intelligence, reviving fears about inflated valuations across the sector.

The Federal Reserve had decided on Wednesday to cut its benchmark interest rate by a quarter percentage point, bringing it into a range of 3.5% to 3.75%.

However, the move was accompanied by warning signals regarding the future path of monetary policy and saw three dissenting votes among members of the Federal Open Market Committee, something that has not occurred since September 2019.

In a press conference following the decision, Fed Chair Jerome Powell said inflation remains “somewhat elevated” due to tariffs, expressing hope that upcoming economic data will provide clearer visibility.

In trading, the Dow Jones Industrial Average rose by 0.2%, or 108 points, to 48,816 points by 15:03 GMT, while the broader S&P 500 index fell by 0.3%, or 21 points, to 6,880 points, and the Nasdaq Composite declined by 0.61%, or 137 points, to 23,455 points.