The Nasdaq closed lower on Friday as the index retreated, affected by a sell-off in chip stocks.
This came as investor concerns mounted over massive spending on artificial intelligence technologies.
This occurred ahead of earnings announcements from major technology companies.
In contrast, the S&P 500 closed nearly flat.
Meanwhile, the Dow Jones Industrial Average rose, buoyed by falling oil prices, despite ongoing tensions in the Middle East.
Investors are awaiting earnings reports from Microsoft, Amazon, Meta, and Apple.
This comes after Alphabet announced plans to increase capital spending, raising questions about how quickly returns on artificial intelligence investments will materialize.
At the close, the Dow Jones rose 0.46% to 51,947.52 points.
Meanwhile, the Nasdaq fell 0.63% to 24,980.34 points.
The S&P 500 closed up 0.07% at 7,413.30 points, with all three indices posting mixed weekly gains.
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