Nasdaq extends weekly gains, S&P 500 and Dow dip

NEW YORK: US stocks closed out the trading week near the unchanged mark in a subdued session on Friday, with the S&P 500 and Dow posting weekly declines, while the Nasdaq secured its fourth consecutive week of gains.

Broadcom forecast quarterly revenue surpassing Wall Street expectations and predicted robust growth in demand for its custom AI chips over the next few years. The optimistic outlook propelled the company’s shares 24% higher, pushing its market capitalisation past US$1 trillion for the first time.