US Stocks Tread Water As AI And Chip Rally Clashes With Consumer Weakness: Tesla, Amazon, Micron, Nvidia Among Top Movers

• Semiconductor and memory stocks outperformed, with strong gains in flash-memory and AI-linked names tied to CES and data-center demand.
• Consumer discretionary shares weighed on broader indexes following weak auto sales and pressure in large-cap retail.
• Tariff relief boosted furniture and home-furnishings stocks.

U.S. stocks traded mixed on Friday as gains in semiconductor and AI shares were offset by weakness in consumer discretionary names, keeping broader indexes near flat as investors digested tariff news and early-year market signals.

At the time of writing, the S&P 500 was down 0.2%, the Nasdaq Composite slipped 0.5%, while the Dow Jones Industrial Average rose 0.2%.

Chips And AI Lift The Tape

Semiconductor stocks led the upside. Advanced Micro Devices climbed 3.5% ahead of CEO Lisa Su’s CES appearance next week, while Nvidia rose 1.8% with CEO Jensen Huang set to headline multiple CES events. 

Flash-memory stocks outperformed, with Micron Technology touching a record high after jumping as much as 8.8% and Sandisk surging up to 13%. Palantir and Microsoft also advanced, tracking optimism around AI spending.

AI Optimism Shapes The Outlook

Supporting the rally in AI-linked stocks, Wedbush’s Dan Ives said AI is entering its monetization phase and that gains are likely to extend beyond Big Tech. 

He described AI as being at an inflection point, with second, third, and fourth-order effects beginning to emerge, and said Tesla and Nvidia are among the best-positioned names in physical AI. Ives also said tech stocks could rise 20% to 25% in 2026, with Huang’s CES keynote expected to help set the tone for the year ahead.

Consumer Stocks Drag

The S&P 500 and Nasdaq turned lower as consumer discretionary shares fell. Amazon declined 2.3%, while Tesla slid about 1.6% after reporting a second straight annual drop in vehicle sales. By contrast, Caterpillar and Boeing rose, helping keep the Dow in positive territory.

Tariffs And Early-Year Signals

Furniture retailers rallied after U.S. President Donald Trump delayed planned tariff increases on upholstered furniture, cabinets, and vanities for another year. Wayfair, Williams-Sonoma, and RH all posted solid gains.

Adding some historical perspective, Ryan Detrick of Carson Group noted in a post on X that the S&P 500 has finished lower on both the last day of the year and the first day of the new year for three straight years, matching a streak last seen in the mid-1990s, a period he said was “not the worst time for bulls.”

How Did Stocktwits Users React?

On Stocktwits, retail sentiment for the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) was ‘bullish’ amid ‘normal’ message volume, while sentiment for the SPDR Dow Jones Industrial Average ETF Trust (DIA) was ‘bearish’ amid ‘low’ message volume.

Over the past 12 months, SPY is up 18% and QQQ has gained 20%, while DIA is up 15%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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