Wall Street week wraps up with tech losses

American stock indices ended their week with mixed results, as the Nasdaq Composite declined for the second consecutive week amid concerns over rising AI spending and anticipation of earnings reports from major tech companies, all while tensions in the Middle East persist. Meanwhile, the S&P 500 remained relatively stable, but information technology sector stocks were impacted by a decline in chip shares, especially as expectations of increased capital expenditure from companies like Intel and Alphabet continue. Additionally, oil prices fell more than 3% after a prior surge, amid fears of escalating conflict between the United States and Iran. On the other hand, corporate activities in the U.S. increased in July due to the World Cup and Independence Day celebrations, despite a slowdown in industrial growth.

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