S&P 500 steadies, logs weekly loss

US stock indexes were mixed on Friday, as ongoing pressure on the technology sector amid artificial intelligence concerns offset investor optimism following data showing slower consumer inflation in January.

The Dow Jones Industrial Average edged up 0.10%, or 48 points, to 49,500, but posted a weekly loss of 1.22%.

The broader S&P 500 was little changed at 6,836, yet declined about 1.40% over the week, marking its second straight weekly loss.

The Nasdaq Composite fell 0.22%, or 50 points, to 22,546, deepening its weekly loss to 2.10%.

Across the Atlantic, the Stoxx Europe 600 slipped 0.15% to 617.7, though it recorded a slight weekly gain of 0.10%.

Germany’s DAX rose 0.25% to 24,914, while the UK’s FTSE 100 gained 0.42% to 10,446. France’s CAC 40 fell 0.35% to 8,311.

In Japan, the Nikkei 225 dropped 1.20% to 56,941, and the broader TOPIX declined 1.65% to 3,818. Both indexes, however, rose over the week by about 4.95% and 3.25%, respectively.

In commodities, April Brent crude futures rose 0.34%, or $0.23, to $67.75 a barrel, but were down 0.44% for the week. March WTI crude futures edged up nearly 0.10%, or $0.05, to $62.89 a barrel, posting a weekly loss of 1%.

April gold futures climbed 2%, or $97.90, to $5,046.30 an ounce, up 1.34% on the week.

What’s driving markets?

Concerns over the potential negative impact of artificial intelligence continued to weigh on technology stocks, overshadowing improved sentiment after data showed consumer price inflation slowed at the start of the year.