Wall Street ended the week with a split market, as investors rotated out of prominent technology stocks and into sectors more sensitive to interest rates.
Lower short-term interest rates boosted small caps, industrials, materials, and financials, while lackluster tech earnings raised concerns about returns on artificial intelligence (AI) investments. The shift resulted in mixed weekly performance among major indexes.
The Dow Jones Industrial Average rose by 1.05 percent for the week to 48,458 after touching an all-time high on Dec. 12. The S&P 500 slipped by 0.63 percent to 6,827, while the tech-heavy Nasdaq Composite Index fell by 1.62 percent. The Russell 2000 gained 1.19 percent.
Market volatility also reversed course after two quieter weeks, with the Chicago Board Options Exchange Volatility Index rising 2.14 percent for the week to 15.74….