Microsoft’s $136 billion market cap gain offsets declines in Caterpillar and Goldman Sachs, capping a mixed week for major indexes.
The Dow Jones Industrial Average rose 1% for the week, buoyed by a 4.9% gain in Microsoft shares, which added $136 billion to its market capitalization. The S&P 500 remained near breakeven, while the Nasdaq Composite fell 4% over the same period, extending losses in Friday’s session.
Microsoft’s advance provided critical support, as it ranks among the top holdings in all three major indexes. Meanwhile, Caterpillar and Goldman Sachs dragged the Dow lower, with declines of 4.1% and 2.8%, respectively, nearly erasing the index’s weekly gains. Neither stock had significant news driving the drop.
The Nasdaq’s underperformance reflected broader weakness in tech, though SpaceX reversed early losses to trade higher on Starlink mobile-service optimism. Micron Technology, which surged 16% on earnings Thursday, retreated 4% Friday.