On June 26, 2026, traders are working at the New York Stock Exchange.
new york stock exchange
of S&P500 It rose slightly on Friday, but is still headed for a weekly loss as investors move away from major technology stocks and into more defensive areas of the market.
The overall market rose 0.1%; Nasdaq Composite. of Dow Jones Industrial Average It traded near the flatline.
The S&P 500 is expected to fall more than 1% this week, and the Nasdaq is expected to fall 4%. The Dow Jones Industrial Average is up 0.6% over the period and is gaining momentum heading into a winning week.
Chip stocks fell after a New York Times report that OpenAI is considering delaying its IPO to next year. space x‘s poor performance and overall volatility in AI-related stocks after their debut.
JPMorgan traders said the report raised concerns about “the sustainability of infrastructure spending given delays in capital market financing.”
OpenAI’s IPO delay “could slow the pace of infrastructure investment,” said Vital Knowledge’s Adam Crisafulli.
shares of micron technology Although it decreased by 4%, advanced micro device I lost 2%. shares of intel Decreased by more than 3%.
The decline was particularly severe in Asia. SoftBank Group, a major backer of OpenAI, led losses across the region on Friday, plummeting more than 12%. South Korean stocks ended sharply lower, with the Kospi down 5.81% to 8,411.21 and the Kosdaq down 4.10% to 851.37, as a broad decline in technology stocks spread across the region.
Ross Mayfield, investment strategist at Baird, thinks the rotation could continue “well into July” due to “how long some semiconductor stocks have been.” That said, he’s still bullish on the group long-term.
“I would still bet on chip stocks and AI infrastructure stocks to outperform over the next 12 months because demand is so insatiable,” he said. While it’s possible that “some of the laggards will try to catch up little by little,” Mayfield continued, “I don’t necessarily think we’re going to see a complete rotation of AI infrastructure names over the next 12 months or anything like that.”
The information technology sector of the S&P 500 Index was down 1% on the day as investors exited semiconductor stocks and continued buying health care stocks after the group’s prominence the previous trading day. shares of Eli Lilly Although it increased by 7%, johnson & johnson It increased by more than 3%. AbbVie The stock price rose more than 1%.
Besides healthcare, the consumer staples, financial and utilities sectors were also winners on the day. Daily necessities rose more than 1%, while finance and utilities rose 0.8% and 0.4%, respectively.
Better-than-expected consumer sentiment indicators and an improving outlook for inflation supported markets on Friday. This comes as Minneapolis Fed President Neel Kashkari said he expects to raise interest rates once this year as a result of rising inflation related to the Middle East conflict.
Oil prices remained depressed on Friday after President Donald Trump said Iran had violated the ceasefire agreement with the United States.
