Wall Street Closes Mixed on Friday; Nvidia Declines Sharply

The main Wall Street indices ended Friday with mixed results, as the absence of significant economic news left investors cautious.

Markets showed signs of returning to weekly gains after the momentum from the post-election rally began to ease.

The Dow Jones Industrial Average rose 0.48%, closing at 44,079.38 points, driven by strong performances in consumer staples and real estate sectors. The S&P 500 gained 0.3% to end the day at 5,969.15 points, while the tech-heavy Nasdaq Composite edged up just 0.17% to 18,939.65 points, weighed down by declines in major technology stocks.

Alphabet shares fell 1.74%, continuing their slide as regulatory concerns mounted. The U.S. Department of Justice recently requested that a judge force Google to sell its Chrome browser, adding pressure to the stock. Nvidia also saw significant losses, dropping 3.11%, as negative sentiment persisted following its quarterly report. It was the worst-performing stock within the Dow Jones.

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Other Relevant Movers

On the other hand, Walmart stood out as the top performer in the Dow, gaining 2.40% as investors showed confidence in consumer staples amid market uncertainty. Meanwhile, Netflix recorded a 0.2% increase, marking its fifth consecutive day of gains. The stock has risen more than 9% this week, buoyed by the success of the highly popular Mike Tyson vs. Jake Paul boxing match broadcasted by the platform.

Netflix announced that 108 million viewers worldwide tuned in to the event, which took place on November 15 and featured the 27-year-old influencer-turned-boxer Jake Paul defeating the 58-year-old former heavyweight champion Mike Tyson.

Despite the mixed results, sectors like consumer staples and real estate performed well, while the communications and technology sectors lagged behind, reflecting investor hesitancy amid ongoing economic and regulatory uncertainty.