Intel fell 0.9%. CEO Lip-Bu Tan downplayed rumors that a recent hire from Taiwan Semiconductor Manufacturing had taken company data from the Taiwanese chip manufacturer. Local media reported this week that Taiwanese officials were investigating Wei-Jen Lo, who joined Intel in October. U.S.-listed shares of TSMC were down 3.1%.

Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

Wall Street analysts are forecasting substantial upside in Meta Platforms, MercadoLibre, and Circle Internet Group.

The S&P 500 Index erased much of its earlier gains to trade little changed on Friday as Nvidia Corp. and several other megacap stocks fell on revived concern about stretched valuations and the risk of an AI bubble.

Gap’s Old Navy brand continues to draw value-focused shoppers, while its namesake brand attracts more high-income and Gen Z consumers, Chief Executive Richard Dickson said. The retailer also said it has sold more of its items at full price, which it expects to drive further growth during the holiday shopping season.

Nvidia’s third-quarter earnings beat initially alleviated AI-bubble fears, but tech stocks slipped as markets digested economic data.

Nvidia is the poster child of the stock market's AI-driven ascent to record highs, so all eyes were laser-focused on its latest earnings report. The AI King delivered the goods, besting Wall Street analysts' top and bottom-line estimates, and offering bullish guidance. Investors reacted kindly... at first.