US: Stocks Swing Lower.

US stocks swung lower on Friday as macroeconomic headwinds weighed against signs of tech optimism from earlier in the week. The S&P 500 eased 0.2% from its record high, while the Dow and the Nasdaq 100 fell up to 0.5%. Long-maturity Treasury yields swung higher amid concerns that the Federal Reserve could be complacent of higher inflation, despite the seemingly cool price data released this week. Alphabet, Amazon, Broadcom, and Oracle swung to losses. Meanwhile, Applied Materials dropped 5% despite beating forecast estimates. On the other hand, memory producers extended their strong gains from earlier in the week, with Sandisk adding more than 5% following its 14% surge yesterday, while Micron jumped 4% on bullish recommendations from analysts and brokers. The fresh wave of long positions on AI infrastructure were also underpinned by signals of more spending by hyperscalers, with both OpenAI and Anthropic aiming for IPOs this year, while the latter moved to acquire Decart.