"Wall Street's Mixed Finish: Dow Hits Record, Intel Plunges, and Tesla Dives"

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Source: The Associated Press
"Wall Street's Mixed Finish: Dow Hits Record, Intel Plunges, and Tesla Dives"
Photo: The Associated Press
TL;DR Summary

Wall Street closed out its 12th winning week in the last 13 with a mixed finish, as drops for technology stocks dragged on the market. The S&P 500 slipped after a six-day winning streak, while the Dow Jones rose. Intel and KLA led chip stocks lower despite reporting stronger profits, and the U.S. stock market closed out another winning week as reports suggest inflation is cooling while the economy continues to power higher. The Federal Reserve's next meeting is expected to end with no change to interest rates, but traders are split on whether it could begin cutting rates in March. Critics warn that overzealousness may be setting financial markets up for disappointment after their big rallies in recent months.

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