This report is based on reporting by The Associated Press.
BANGKOK, Thailand – World stock markets traded with mixed results Friday after the Dow Jones Industrial Average closed at another record high in the United States, while technology shares tied to artificial intelligence showed uneven performance across global markets.
U.S. stock futures pointed to a mixed opening before trading paused for the Independence Day holiday. Futures linked to the S&P 500 rose 0.3%, while Dow futures slipped 0.2%.
European markets delivered a similarly mixed picture. Germany’s DAX gained 0.4% to 25,667.73, while France’s CAC 40 edged down 0.1% to 8,471.19. Britain’s FTSE 100 declined 0.4% to 10,613.55.
Asian Markets Recover After Technology Sell-Off
Several Asian markets rebounded following recent weakness in technology shares, particularly among semiconductor companies.
South Korea’s Kospi surged 5.8% to 8,088.34 after falling nearly 8% in the previous session. Samsung Electronics climbed 8.2%, while memory chip manufacturer SK Hynix advanced 10.9%.
Japan’s Nikkei 225 added 1.5% to close at 69,744.07. Chip equipment maker Tokyo Electron rose 0.4%, while memory producer Kioxia gained 9.2%.
Hong Kong’s Hang Seng Index increased 1.3% to 23,350.03, and mainland China’s Shanghai Composite Index rose 0.4% to 4,043.64.
Elsewhere in the region, Taiwan’s Taiex edged 0.1% higher, India’s Sensex gained 0.4%, and Australia’s S&P/ASX 200 advanced 1.4% to 8,844.40.
Stephen Innes of SPI Asset Management said Asian markets found support after two difficult trading sessions led by technology stocks, noting that South Korea’s rebound reflected how quickly heavily sold markets can recover.
Dow Reaches New High Despite Technology Weakness
According to AP News reporting, U.S. markets ended Thursday with mixed performances despite broad gains among individual stocks.
The Dow Jones Industrial Average rose 1.1% to a record closing high of 52,900.07.
The broader S&P 500 finished little changed, adding less than 0.1% to close at 7,483.24 even though roughly 70% of its constituent companies posted gains.
The Nasdaq Composite, which has greater exposure to large technology companies, fell 0.8% to 25,382.67 as semiconductor shares continued to face selling pressure.
Jobs Data Shapes Interest Rate Expectations
Investor sentiment was also influenced by fresh U.S. labor market data.
According to the employment report, U.S. employers added 57,000 jobs during the previous month, below economists’ expectations of 100,000 and slower than the pace recorded in May.
The weaker hiring figures eased concerns that inflationary pressures could remain elevated, potentially reducing the need for the Federal Reserve to raise interest rates as aggressively.
Lower borrowing costs generally support equity markets by reducing financing expenses for businesses and consumers while encouraging investment.
AI Chip Stocks Continue to Drive Market Volatility
Technology shares remained one of the biggest influences on overall market performance.
Recent selling has reflected investor concerns that valuations across AI-related semiconductor companies may have risen too rapidly and that substantial investments in chips and data centers may not generate the level of profits or productivity gains previously anticipated.
Micron Technology reversed earlier gains to finish down 5.5%, extending losses after dropping 10.6% the previous session.
Nvidia declined 1.4%, while Lam Research fell 10.2%. Their large market capitalizations have made them among the most influential components of the S&P 500. Nvidia remains the index’s largest company by market value at nearly $4.7 trillion, according to AP News.
Cryptocurrency Shares Gain as Bitcoin Recovers
Companies tied to digital assets outperformed after bitcoin rebounded from recent losses.
Robinhood Markets rose 3.8%, while Coinbase Global gained 3.9% after bitcoin increased roughly 2% following a decline that had pushed the cryptocurrency near its lowest level since 2024. Early Friday, bitcoin was up another 0.9%.
Oil and Currency Markets
In commodity trading, Brent crude, the international benchmark, slipped less than 0.1% to $71.76 per barrel. U.S. benchmark West Texas Intermediate crude declined 0.2% to $68.48 per barrel.
In currency markets, the U.S. dollar traded at 161.14 Japanese yen, little changed from 161.11 yen previously. The euro strengthened slightly to $1.1451 from $1.1431.
Article Topics: Global Markets | Dow Jones | AI Stocks | Semiconductor Industry | U.S. Jobs Report | Federal Reserve | Cryptocurrency | Oil Prices
This report is based on reporting by The Associated Press.
