21.08.202613:33:26UTC+00US Stocks Hold Weekly Losses

US stocks edged higher on Friday, breaking the week’s losing streak as investors continued to weigh macroeconomic risks from elevated energy prices and rising bond yields. The S&P 500 and Dow each gained about 0.4%, while the Nasdaq finished just above unchanged.

Long-dated Treasury yields hovered near the levels seen before the Treasury’s announcement of expanded bond buybacks, but the dollar continued to slide. That sustained weakness highlighted persistent market concerns about elevated inflation and widening fiscal deficits, occurring against a backdrop of record corporate bond issuance.

Semiconductor makers and AI-focused hyperscalers were mixed, largely holding on to the steep losses accumulated earlier in the week. Intel, AMD, and Seagate were on track to end the week down roughly 10%, while Meta and Broadcom were poised for declines of about 7%.

In the consumer sector, Walmart’s shares were down about 10% for the week following a rare earnings miss reported yesterday. The results weighed on the company’s outlook and sent a more pessimistic signal about the health of the US consumer.