Chip and AI hardware plays hit, but much of the market held up or rose.

Asian shares are mixed in holiday-thinned trading while oil prices have fallen back from recent gains. U.S. futures edged higher. Markets were closed Friday in South Korea and Taiwan. The S&P 500 fell 0.5% Thursday for its second straight loss after setting an all-time high. The Dow Jones Indust...

A Financial Times report indicated that Open AI would miss revenue estimates by $20 billion.

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At the lows of the day, the Dow Jones was down over 300 points. The index recovered all of those losses to end with gains of 50 points. The S&P 500 and Nasdaq though were underperformers with the S&P 500 ending 0.5% lower and retreating further from record high levels. The Nasdaq Composite fell 1.25%, while the Nasdaq 100 was down 1.4%.

The Nasdaq Composite rose on Friday following a losing session.

The S&P 500 and Nasdaq were lower on Thursday as investors faced more pressure from rising Treasury yields and elevated oil prices.

Tech stocks dropped on Thursday after a news report that OpenAI’s annualized revenue is about $20 billion less than previously reported.