The S&P 500 fell 1.09% to 7,659.44 on Friday, as renewed concerns about AI financing and rising oil prices weighed on stocks. The decline left the benchmark down nearly 1.99% for the week, its steepest weekly loss since June.
December S&P 500 futures traded as high as 7,809.50 and as low as 7,686.50. The session concluded near the day’s low at 7,692.00, well below the midpoint of 7,748.00 and losing 97.25 handles from the prior close of 7,789.25.
On Monday, market participants can look forward to third-quarter results from Cleveland-Cliffs Inc (NYSE: CLF) and Fifth Third Bancorp (NASDAQ: FITB) before the opening bell. Several regional banks are scheduled to report after the close as well. Investors will also prepare for a busier earnings calendar later in the week, including results from Tesla Inc (NASDAQ: TSLA), SpaceXAI (NASDAQ: SPCX), and Meta Platforms Inc (NASDAQ: META).
Among the top components of the index, Berkshire Hathaway Inc. (NYSE: BRK.B) emerged as the biggest gainer. The holding company advanced by $6.34, or 1.21%, to close at $532.02 for the day.
That performance outpaced the cash index by 2.30 percentage points.
Conversely, the biggest loser ended up being Broadcom Inc (NASDAQ: AVGO). For the day, the chip designer declined by $15.58, or 4.52%, to close at $328.75.
