S&P 500 Gains and Losses Today: Tech Stocks Fall to Finish Holiday Week

Major U.S. equities indexes moved little to adjacent retired Christmas week arsenic galore large tech stocks astatine nan halfway of 2024's marketplace gains stumbled heading into nan last fewer sessions of nan year.

The S&P 500 closed Friday's convention 1.1% lower. Underperforming tech stocks pressured nan Nasdaq, which dropped 1.5%, while nan Dow industrials slipped 0.8%. All 3 indexes ended nan holiday-shortened week successful affirmative territory.

Shares of server shaper Super Micro Computer (SMCI) fell nan astir of immoderate S&P 500 stock, tumbling 5.2%. The Nasdaq granted an hold earlier this period for Supermicro to record its delayed yearly report, but questions persist astir nan company's accounting practices and capacity to meet nan updated deadline.

Tesla (TSLA) shares sank 5%, extending losses posted Thursday. The electrical conveyance elephantine is expected to merchandise quarterly accumulation and transportation figures adjacent week. Based connected existent statement estimates for fourth-quarter conveyance deliveries, Tesla's 2024 totals could autumn short of past year's results.

Palantir Technologies (PLTR) banal fell 3.7%, reversing immoderate of this week's push higher. Shares of nan information analytics package supplier debuted connected nan Nasdaq 100 Index connected Monday, and later successful nan week, Wedbush analysts highlighted Palantir arsenic a apical prime among artificial intelligence package firms alongside Salesforce (CRM).

Lamb Weston Holdings (LW) shares roseate 2.6%, posting nan strongest gains successful nan S&P 500 Friday, pursuing reports that activistic investor Jana Partners is collaborating pinch different erstwhile institution executive arsenic it advocates for a translator of nan stiff murphy provider. Jana precocious called for changes to nan committee of board aliases a waste of nan institution aft Lamb Weston posted a nonaccomplishment and named a caller CEO.

Crude lipid prices ticked higher arsenic nan U.S. Energy Information Administration reported a play inventory drop. Shares of lipid and state exploration and accumulation institution APA Corp. (APA) added 1.1%.

Shares of cocoa shaper Hershey (HSY) ticked 0.9% higher connected Friday. Hershey banal surged earlier this period connected nan anticipation of a operation pinch snack nutrient elephantine Mondelez (MDLZ) but gave backmost those gains successful caller weeks. Following nan reports, Mondelez announced an further $9 cardinal stock repurchase and affirmed its attraction connected bolt-on acquisitions, omitting chat of immoderate awesome move, but TD Cowen analysts precocious said this does not wholly negate nan imaginable for a woody pinch Hershey.