Investors weigh AI valuation concerns and OpenAI’s potential IPO delay, capping gains in major indexes.
The S&P 500 edged up 0.2% on Friday, paring earlier losses as a selloff in technology stocks offset broader market gains. Concerns over elevated valuations tied to artificial intelligence and OpenAI’s reported plans to delay its IPO until 2027 weighed on sentiment.
The index had opened lower amid a pullback in Big Tech, following a week of volatility driven by mixed earnings and macroeconomic uncertainty. Prior sessions saw the S&P 500 fluctuate within a narrow range, reflecting cautious positioning ahead of key economic data.
Market reaction remained muted, with traders balancing optimism over potential rate cuts against lingering growth concerns.