Market Overview – Friday Highlights
On Friday, Microsoft shares surged by 4.9%, contributing 107 points to the Dow Jones Industrial Average (DJIA) and adding $136 billion to its market capitalization. The DJIA was the only major index to show a gain, up by 0.3% for the day and 1% for the week. In contrast, the S&P 500 remained near breakeven, down 1.5% for the week, while the Nasdaq Composite dropped 0.5%, extending its weekly loss to 4%.
Simultaneously, the oil market continued to decline, marking the sixth consecutive week of falling prices. The United States Oil Fund dropped 4.1%, with Brent crude nearing $73 per barrel due to heightened expectations of increased Iranian oil supply. In trading activity, SpaceX’s shares fluctuated from a 2% decline at the open to a 2.3% gain by noon, following news about Starlink mobile services. Caterpillar and Goldman Sachs faced significant losses, contributing to a combined drop of 452 points in the Dow, underscoring ongoing economic uncertainties.
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