US stock markets closed mixed on Friday, with retail sales data revealing a retreat in consumer spending during January. The S&P 500 ticked lower by less than 0.1%, while the Dow slipped 0.4%. However, the Nasdaq notched a gain of 0.4% thanks to resilience among tech stocks.
Airbnb emerged as the top-performing stock, surging 14.5% after beating quarterly estimates for profits, bookings, and gross booking value. CEO Brian Chesky hinted at plans to expand Airbnb’s app into a one-stop shop for travel needs.
Despite the mixed action, major US equities indexes posted weekly gains. Other notable movers included Super Micro Computer, which surged 13.3%, driven by reports of a planned investment in humanoid robots by Facebook parent Meta Platforms. Wynn Resorts also saw its shares jump 10.4% after beating sales and profit estimates for the fourth quarter.
In contrast, GoDaddy shares plummeted 14.3%, following mixed results for the fourth quarter. Analysts downgraded their price target on the stock, citing valuation concerns. DaVita and Applied Materials also saw their shares fall, with DaVita citing elevated healthcare costs and Applied Materials noting recent export restrictions to China would negatively impact sales.
As markets wrapped up a week of trading spotlighting inflation updates and evolving trade policies, all three major market gauges posted weekly gains. However, the mixed action on Friday highlighted the ongoing uncertainty in the US economy.
Source: https://www.investopedia.com/s-and-p-500-gains-and-losses-today-airbnb-stock-soars-as-profits-bookings-top-estimates-11680060