Tech Stocks Propel Nasdaq to Record Highs Amid Broad Market Gains

U.S. markets remained steady as Broadcom's optimistic AI chip forecast lifted its shares. Nasdaq marked its fourth week of gains driven by tech stocks, while S&P 500 and Dow dropped. Persisting high yields and trading dynamics reflect shifting investor sentiment amid anticipated Federal Reserve rate cut.

In a steady session on Friday, U.S. stocks rounded off the week near unchanged marks despite Broadcom's AI chip optimism boosting its shares and market cap past $1 trillion.

The Nasdaq advanced for the fourth consecutive week, as tech stocks continued their ascent. Meanwhile, yields on U.S. Treasuries rose, spotlighting investors' focus on interest rates.

Anticipation builds for a Federal Reserve rate cut, motivated by an in-line inflation report. Yet, the stock markets took a breather, reflecting investor sentiment swayed by potential profitability shifts under Donald Trump's incoming administration.

(With inputs from agencies.)