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Stock market today: Dow, S&P 500, Nasdaq waver as report of OpenAI IPO delay rattles chip stocks
Yahoo Finance • • business
Key Points:
- US stocks showed volatility on Friday, with the Nasdaq Composite remaining flat and the S&P 500 and Dow Jones Industrial Average each rising 0.1% after consecutive days of declines.
- A report that OpenAI may delay its highly anticipated IPO until 2027 contributed to market uncertainty, particularly impacting tech sector sentiment.
- Rising costs for memory and storage components, highlighted by Apple’s price increases for MacBooks and iPads, are raising concerns for device manufacturers.
- Strong earnings from memory chipmaker Micron indicate that cost pressures in the semiconductor industry are likely to persist.
- Inflation data suggesting ongoing Federal Reserve interest-rate hikes added to the cautious market mood, further weighing on the AI and tech sectors.
