Down and S&P Post First Weekly Loss in 9 Weeks
The Nasdaq was able to recover from its earlier decline to close trading in positive territory Friday. It was the lone index to reverse its fortune as the S&P 500 and Dow Jones continued their losing streak.Those two averages posted their first weekly loss in 9 weeks
Nvidia was able to go against the grain and gain nearly 6% on heavy volume after the chip maker and action alerts plus holding blew analysts earnings expectations out of the water. The company continues to see strength in its video game division while returns from its data center segment are increasing. Nvidia hit an all-time Friday and the stock has more than doubled year to date.
Billionaire Rob Baron of Baron Capital defended his firm's $500 million bet on struggling electric vehicle company Tesla on CNBC Friday. Baron said that he believes that his fund will make back 20 times that amount over the next 15 years. Currently, Baron Capital's returns sit at about $150 million in the three years since it first purchased a stake in the venture.
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