U.S. stocks closed mixed on Friday (November 6) as artificial intelligence (AI) stocks, which had been heavily sold off the previous day (the 5th), attracted bargain hunting. The Nasdaq index rebounded 1.09%; the Philadelphia Semiconductor Index surged 4.21%; and the Dow Jones Industrial Average closed down 237 points, or 0.46%.
Among individual stocks, chip stocks were especially eye-catching. AMD (Advanced Micro Devices) soared more than 11%, Micron Technology gained more than 5%, and TSMC’s ADR also jumped more than 6%.
However, investors remained wary about the AI industry’s outlook and regulatory restrictions on data centers. Meanwhile, better-than-expected U.S. October employment data raised expectations of a Fed rate hike in December, pushing the Dow Jones Industrial Average down 237 points at the close.
The Dow Jones Industrial Average fell 237.33 points, or 0.46%, to 51,285.73.
The Nasdaq index rose 264.43 points, or 1.09%, to 24,579.43.
The S&P 500 index added 23.13 points, or 0.31%, to 7,376.86.
The Philadelphia Semiconductor Index climbed 379.11 points, or 4.21%, to 9,390.25.
Focus stocks:
The five big tech giants ended mixed. Meta rose 0.84%; Apple fell 0.52%; Alphabet gained 0.78%; Microsoft dropped 0.99%; and Amazon slipped 0.35%.
Key semiconductor stocks broadly faced pressure. AMD surged 11.04%; Broadcom rose 0.74%; NVIDIA gained 2.78%; Applied Materials rose 4.22%; and Qualcomm climbed 5.52%.
Taiwan-listed ADRs also moved higher. ASE ADR surged 6.43%; TSMC ADR jumped 6.33%; and UMC ADR rose 3.51%
