Finance

Technology shares faced notable downward pressure to close out the week as investors engaged in profit-taking. Chip equipment manufacturer Applied Materials tumbled over five percent despite exceeding quarterly earnings and guidance expectations, demonstrating that Wall Street's standards remain exceptionally high for artificial intelligence beneficiaries. Other semiconductor majors like Broadcom and Intel followed suit, posting notable losses during the session.

Digital assets decoupled from broader macroeconomic relief, with Bitcoin slipping back below the $63,000 threshold. The downturn followed an unexpected decision by the Securities and Exchange Commission to cancel a highly anticipated Friday meeting aimed at establishing tailored crypto rules. Additionally, sentiment was weighed down by consecutive sessions of spot Bitcoin ETF outflows and the Senate entering recess without passing a key digital asset bill.

Shares of the prominent social media platform surged by roughly thirteen percent in recent trading. The positive price movement followed an official announcement that the stock is slated to join the benchmark S&P 500 index prior to the opening bell next week. This transition expectedly triggered a wave of buying momentum from institutional investors and index-tracking funds.