The major US stock indices are closing lower on the day and for the trading week. The declines for the weeks snap a 5-week winning streak. The declines on the day come after two days of higher closes. The NASDAQ and the Russell 2000 were the biggest losers as rates moved higher, and some of the high flyers saw profit-taking.

The final numbers are showing:

• Dow industrial average fell -145.15 points or -0.37% at 38627.98
• S&P index fell -24.16 points or -0.48% at 5005.56
• NASDAQ index fell -130.53 points or -0.82% at 15775.64

For the Russell 2000 it fell -28.73 points or -1.39% at 2032.74

For the trading week:

• Dow Industrial Average fell -0.11%
• S&P index fell -0.42%
• NASDAQ index fell -1.34%

For the Russell 2000 and actually rose 1.132% this week.

Looking at some of the big movers:

• Super Micro Computers after extending up to a high $1077, tumbled and closed at $803 down $201 or -20.02%.. Despite the tumbled the shares still rose 8.51% this week
• Adobe tumbled $-43.78 or -7.41% to $546.66. Shares of Adobe fell -12.84% this week.
• Meta fell $-10.70 or -2.21% at $473.33. For the week who rose 1.11%
• Alphabet fell $-2.25 or -1.58% at $140.52. For the week shares tumbled -5.69%
• Microsoft fell $-2.50 or -0.61% at $404.06. For the week the shares fell -3.92%
• Arm Holdings fell $-5.34 or -3.99% at $128.34. For the week, the shares still rose 11.4%.
• Broadcom fell $-19.59 or -1.55% at 1245.48. For the week, the shares fell -2.96%
• Micron fell $-2.13 or -2.61% at $79.50. For the week, the shares fell -7.08%
• Apple fell $-1.56 or -0.85% at $182.24. For the week, shares-5.69%
• Nvidia shares fell $-0.45 or -0.06% at $726.13. For the week, shares rose 0.66%. Nvidia reports its earnings next week.

This article was written by Greg Michalowski at www.forexlive.com.