US stock indexes rebounded from losses on Friday as sellers targeted Big Tech, weighing down the Nasdaq composite. The tech-heavy index fell 1.5% but regained its 21-day moving average by close. The S&P 500 dropped 1.1%, while the Dow Jones Industrial Average lost 0.8%.
Volume surged on both exchanges, with decliners outnumbering advancers by a significant margin. The yield on the benchmark 10-year Treasury note rose four basis points to 4.62%. All 11 sectors fell, except Energy Select Sector SPDR (XLE), which dropped only slightly.
Tesla retreated from its record high and fell over 4% after fourth-quarter delivery numbers are expected next week. Analysts expect 510,000 units but the company forecasts 515,000 units. Cathie Wood’s Ark Innovation ETF sold shares of Tesla and Palantir, both of which have surged in recent weeks.
Warren Buffett purchased more VeriSign shares and Berkshire Hathaway is among top stocks to watch in 2025, according to a Barron’s report. Nvidia stock fell below its 50-day moving average but may build a late-stage double bottom base with a buy point of 146.54. Apple shares dropped after analyst Dan Ives raised the price target to $325 with an outperform rating.
Stocks that have surged recently showed mixed action, including SoundHound AI falling nearly 4%, while Rigetti Computing added 2%. D-Wave Quantum plunged, and Rocket Lab fell out of orbit due to its buy point at 28.10.
Source: https://www.investors.com/market-trend/stock-market-today/dpw-jones-sp500-nasdaq-nvidia-nvda-stock-ai