US stock indices closed lower on Friday as the selloff in chipmakers extended into an eighth consecutive session, marking the sector’s longest losing streak since the 2008 financial crisis. The S&P 500 fell 1.1%, the Dow shed 175 points, and the Nasdaq dropped 2.5%. CoreWeave plunged 11.9%, extending its weekly losses to 23.7% and highlighting renewed credit concerns surrounding AI infrastructure companies. The sector has come under pressure following relatively modest revenue figures from Anthropic and growing concerns about higher interest rates for heavily indebted companies. Economic data released last week showed accelerating consumer inflation and surging producer prices, both at the headline and core levels. Nvidia lost 1.4%, Micron fell 5.6%, and AMD dropped 5.9%. Meanwhile, Tesla declined 2.1% and SpaceX fell 1.7% amid speculation about a potential merger between the companies. For the week, the S&P 500 shed 2%, the Nasdaq lost 5% and the Dow added 156 points.

SPI down 11 - CWY and FPR in focus - CGF gets a bid too.

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The ASX 200 jumped 87 points to close at 8,807, up around 90 points for the week, on better U.S. markets and comments from the Federal Reserve chief, Kevin Warsh, in Bangkok. Banks saw profit-taking today, with CBA down 1.1% and NAB down 1.0%, with the Big Bank Basket slipping 1%. Elsewhere in financials, though, MQG rose 1.1%, and financial stocks rose, with the ASX up 0.7% and PNI up 5.6%. REITs were a little weaker today, with SCG down 0.9% and VCX down 0.8%. Healthcare was once again a standout sector, with CSL up 2.8%, PME up 7.4%, and also RMD doing well.

Industrials were back in favour, with the tech sector leading the charge, as WTC rose 9.0%, TNE rose 4.2%, and even NXT had a good day, up 3.6%. The All - Tech index rose 4.4%. Retail stocks also did well after the jobs number yesterday helped the bond market, with WES up 1.0%, JBH up 1.3%, and PMV up 1.6%.

In the resource sector, we had a good bounce back, with BHP up 3.5%, RIO up 1.5%, and the gold miners also showing good gains, with NST up 3.3% and GMD up 4.9%. Rare earths and lithium stocks remained on the sidelines, although we did see some small gains. After a torrid week, buyers were back covering shorts in PDN and DYL, with oil and gas stocks easing slightly.

In corporate news, MGH rallied 14.8% after an update from the company, while CWY fell 6.1% ahead of Monday's deadline on the takeover approach. MSB rose 2.6% despite a 44% increase in net revenue. New listing OWL fell 12.5% after an $8m raise. MYX rose 1.2% after reaching a patent settlement.

Nothing locally on the economic front, with all eyes on Kevin Warsh in Bangkok.

10-year yields ease to 5.21%. US Futures – Dow up 40 Nasdaq up 44

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Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

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