The major stock benchmarks rallied Friday but were lower last week, with the Nasdaq leading the way lower after reaching new highs.
In a heavy week of tech earnings, the Nasdaq lost 1.5% and broke a seven-week winning streak. The Nasdaq on Tuesday posted a record-high close of 18,712. The index finished 2.5% below Tuesday's high. Advanced Micro Devices lost another 9.2% this week after the company reported a solid third quarter that was overshadowed by investors wanting to see faster growth in its artificial intelligence chip business. Apple and Microsoft fell more than 3.7% and 4.
Specialist traders work inside a post on the floor at the New York Stock Exchange in New York City, U.S., October 23, 2024.
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