The Dow Jones Industrial Average closed lower on Friday, capping off a volatile week as Intel's disappointing outlook weighed heavily on investor sentiment. The decline came despite earlier rebounds following Tuesday's sharp selloff triggered by geopolitical tensions.
Market Performance Overview
Friday's trading session delivered mixed results across major indices, with the Dow bearing the brunt of selling pressure while tech-heavy benchmarks showed resilience.
| Index |
Friday Close |
Change (Points) |
Change (%) |
| Dow Jones |
49,098.71 |
-285.30 |
-0.58% |
| S&P 500 |
6,915.61 |
+2.26 |
+0.03% |
| Nasdaq |
23,501.24 |
+65.23 |
+0.28% |
Despite Friday's modest gains for the S&P 500 and Nasdaq, all three benchmarks recorded weekly losses. The S&P 500 fell 0.36% for the week, while the Dow declined 0.53% and the Nasdaq slipped 0.06%.
Intel's Dramatic Decline
Chipmaker Intel emerged as the day's biggest drag on market sentiment, with shares plunging 17.03% to $45.07. The company forecast quarterly revenue and profit below market estimates, citing struggles to satisfy demand for its server chips used in AI data centers. This performance starkly contrasted with top gainers like Live Nation Entertainment, which surged 6.39%.
| Top Movers |
Price |
Change (%) |
| Live Nation Entertainment |
$146.97 |
+6.39% |
| Fortinet |
$81.64 |
+5.18% |
| Intel |
$45.07 |
-17.03% |
| Capital One Financial |
$217.30 |
-7.56% |
The 'Show-Me' Season for AI Stocks
Intel's disappointing results highlight the mounting pressure on technology companies to justify their elevated valuations through concrete revenue growth. Julian McManus, portfolio manager at Janus Henderson, emphasized that 2026 represents a critical "show-me" period where companies must demonstrate actual revenue growth to support their stock price run-ups.
The upcoming earnings season will be particularly crucial for the Magnificent Seven stocks, including Apple, Tesla, and Microsoft, which are scheduled to report results next week. On Friday, most megacap stocks posted gains, with Microsoft, Meta, and Amazon rising between 1.7% and 3.3%. Nvidia gained 1.5% following reports that Chinese officials have allowed major tech companies to prepare orders for Nvidia's H200 AI chips.
Sector Performance and Market Outlook
Seven S&P sub-sectors ended in positive territory, led by materials with a 0.9% increase. The energy index rose 0.6% to its third successive record closing high, making it the top-performing sub-index for the week with a 10.1% advance in 2026.
Trading volume reached 17.34 billion shares on Friday, slightly above the 20-day average of 17.07 billion shares. Despite the week's volatility, investors remain cautiously optimistic about the underlying strength of the American economy, though geopolitical uncertainties continue to pose risks to market stability.