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Major US indexes were slightly lower on Friday afternoon as markets retreated from the post-election rally that sent them into record territory.
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Shares of Super Micro Computer tumbled on concerns that the stock could be removed from the Nasdaq 100 Index.
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Shares of Broadcom soared after the chipmaker’s earnings and outlook exceeded expectations.
Major US indexes were slightly lower on Friday afternoon as markets took a break from their record performance following last month’s presidential election. The Dow Jones, the S&P 500 and the Nasdaq all lost ground.
Supermicrocomputer (SMCI) shares tumbled over concerns that the computer server maker’s stock could be delisted from the Nasdaq 100 Index.
Shares of Charles Schwab (SCHW) also fell after the discount brokerage and asset manager reported cash flow was flat in November from the month before.
EVgo (EVGO) shares rose after the federal government provided the electric vehicle charging station network with $1.25 billion in loan guarantees.
Broadcom (AVGO) was the best-performing stock in the S&P 500, with shares hitting an all-time high after the chipmaker posted better-than-expected results and forecast strong demand for its artificial intelligence (AI) products.
Shares of Penn Entertainment (PENS) won as the casino operator got an upgrade and price target increase from JPMorgan, anticipating growth as its investments begin to pay off.
RV (RV) rose after the home furnishings retailer boosted its full-year outlook and turned a profit despite a weak housing market.
Oil futures rose and gold prices fell. The yield on ten-year government bonds rose. The US dollar rose against the pound and yen, but lost ground against the euro. Most major cryptocurrencies traded lower.
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