• U.S. stocks fell, ending a six-week winning streak for the S&P 500 and Dow Jones.
• Rising bond yields and strong economic data contributed to the market pause.
• Investors will focus on upcoming technology profits, with AI monetization trends in the spotlight.

U.S. stocks traded mostly lower on Friday, capping a week of declines for the S&P 500 and Dow Jones Industrial Average.

Both averages ended a six-week winning streak on Friday, while a rally in large-cap technology stocks helped fuel a seventh week of gains and a new record for the Nasdaq.

A sharp rise in bond yields this week posed a major hurdle for investors after a strong rally since the start of the month.

The 10-year U.S. Treasury yield jumped nearly 20 basis points this week as macroeconomic data suggests the economy remains resilient and on solid foundations.

Meanwhile, investors are paying close attention to third-quarter results, with a number of large-cap technology companies due to report results next week, including Apple, Meta, Microsoft and Amazon.

Commentary on AI monetization trends will be a priority for investors when analyzing earnings reports.

“We expect results from big tech companies next week to show a mix of stable operational performance, AI-driven revenue acceleration, and resilient advertising that speaks to continued health and innovation” , Ido Caspi, research analyst at Global X, told Business Insider.

“We expect to see further evidence of generative AI evolving along its growth curve and continuing to move from experimentation to widespread monetization,” he added.

So far, 36% of S&P 500 companies have reported their results. Of these companies, 79% beat earnings estimates by a median of 6%, while 58% beat revenue estimates by a median of 2%, according to Fundstrat data.

Next week, traders will look at several economic data updates, including September’s personal consumption spending, which is the Fed’s preferred inflation indicator, as well as the October jobs report. September data showed that 254,000 jobs were created during the month.

A similarly high number would likely further dampen rate cut expectations as markets see less urgency from the Fed to support the economy.

Here’s where the US indexes stood at the 4:00 p.m. closing bell on Friday:

Here’s what happened today:

In commodities, bonds and cryptocurrencies:

• West Texas Intermediate Crude oil jumped 2.19% to $71.73 per barrel. Brent crudethe international benchmark, rose 2.11% to $75.95 per barrel.
• Gold was up 0.30% at $2,757.10 an ounce.
• The 10-year Treasury yield rose 3 basis points to 4.246%.
• Bitcoin was down 1.83% at $66,914.