Nasdaq dips; Dow, S&amp;P 500 post minor gains
Utilities leads S&amp;P 500 sector gainers; Comm Svcs weakest group
Dollar dip; crude edges up; gold up &gt;2%; bitcoin up &gt;4.5%
US 10-Year Treasury yield falls to ~4.05% Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at
<h3>RATE CUT HOPES BATTLE TECH CONCERNS</h3>
Rising hopes of more interest rate cuts this year battled with ongoing concerns about the impact of AI on software and other companies to make for a choppy day of trading on Friday, with the main Wall Street indexes ending mixed and lacking conviction. Traders ramped up bets that the Federal Reserve could cut rates three times this year after data showed softer than expected consumer price inflation in January. Fed funds futures now show 64 basis points of cuts priced in by December, up from 59 basis points late on Thursday.
But market participants also remain nervous that rapidly developing AI will dent the bottom line of software and other companies vulnerable to the technology.
The Nasdaq Composite (.IXIC) was the worst-performing major index, ending down 0.2%, while the Dow Jones Industrial Average (.DJI) and S&amp;P 500 (.SPX) eked out minor gains.
Communication Services (.SPLRCL) was the weakest sector, while Utilities (.SPLRCU) and Real Estate (.SPLRCR) outperformed.
The Dow Jones Utilities Average (.DJU) , S&amp;P 500 Utilities and S&amp;P 500 Staples (.SPLRCS) scored record closes.
Here is Friday’s closing market snapshot:
(Karen Brettell, Terence Gabriel)
<h3>EARLIER ON LIVE MARKETS: A NEW ERA FOR INDUSTRIALS? CLICK HERE INDIVIDUAL INVESTOR BEARS LEAP - AAII CLICK HERE LUCKY 13: CORE CPI NUDGES CLOSER TO FED INFLATION TARGET CLICK HERE US STOCKS STRUGGLE EARLY, YIELDS UNDER PRESSURE CLICK HERE US STOCK FUTURES FIRM UP SLIGHTLY, YIELDS SLIP, AFTER SOFT CPI CLICK HERE GRIT IN THE OYSTER - GOLDMAN ON CENTRAL BANK DISSENTERS CLICK HERE AI DISRUPTION IS NOT A NEGATIVE - JEFFERIES CLICK HERE LUXURY STRUGGLES ON L’OREAL RESULTS CLICK HERE EUROPE BEFORE THE BELL: NOT ANOTHER AI-INDUCED SELLOFF CLICK HERE MORNING BID: NO LONGER THE APPLE OF THEIR EYE CLICK HERE</h3>
Monitor
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Rising hopes for interest rate cuts clashed with concerns over AI's impact on tech stocks, leading to mixed trading on Wall Street. The Nasdaq fell 0.2%, while the Dow and S&P 500 saw minor gains. Utilities led sector gains, and the dollar dipped. The US 10-Year Treasury yield dropped to ~4.05%. Traders are now pricing in 64 basis points of rate cuts by December, up from 59 basis points, following softer consumer price inflation data.

- Major U.S. stock indexes ended mixed, with the Nasdaq down 0.2%, while the Dow and S&P 500 posted minor gains amid rate cut hopes and concerns over AI's impact on companies.  
- Traders increased bets on potential Federal Reserve rate cuts after softer consumer price inflation data, with futures indicating 64 basis points of cuts priced in by December.  
- The Utilities sector outperformed, achieving record closes, while Communication Services was the weakest performer.

LIVE MARKETS-Rate cut hopes battle tech concerns