Wall Street Today | S&P 500, Dow Hit Fresh All-Time High as Nasdaq Slips

The S&P 500 index touched a new all-time high before paring gains as investors reexamine how far the rally has gone and whether the momentum that was fueled by $NVIDIA (NVDA.US)$'s blockbuster earnings could be sustained.

Seven of 11 sectors gained led by utilities, materials and healthcare. Tech stocks wavered as Nvidia and $Amazon (AMZN.US)$ were the only members of the Magnificent Seven that managed to hold on to gains.

The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ slipped 0.3% to 15,996.82, while the $S&P 500 Index (.SPX.US)$ barely ended in the green, settling little changed at 5,088.8. The $Dow Jones Industrial Average (.DJI.US)$ gained 0.2% , to 39,131.53 a record closed.

Oil prices declined after data showed the number of active rigs drilling for oil rose, adding to an already record record-high production, MarketWatch reported. $Baker Hughes (BKR.US)$ reported Friday that the number of U.S. oil rigs expanded by six this week to 503, following a decline of two oil rigs the week before, the report showed.

$Rivian Automotive (RIVN.US)$ shares slumped as analysts from UBS and JPMorgan downgraded the stock after the company reported disappointing financial results. Yesterday, billionaire Elon Musk even predicted that the company could go bankrupt in the next six quarters, unless the downward trajectory of its cash pile reverses.

$Intuitive Machines (LUNR.US)$ shot up 23% Friday after the company's Odysyus lander touched down safely on the South Pole of the moon, NASA Chairman Bill Nelson announced on X. That marks the first successful mission by a private company to land on the lunar surface.

$Booking Holdings (BKNG.US)$ pulled back as much as 10% intraday Friday from a record finish a day earlier after the travel-booking firm’s Q4 earnings failed to impress Wall Street and analysts cut the stock’s ratings or price targets.

$LegalZoom (LZ.US)$ shares climbed almost 15% after the technology provider of legal, tax and compliance products for small businesses reported fourth quarter adjusted earnings and revenue that beat analysts' average estimate. Adjusted earnings for the three months ended Dec. 31 rose to 13 cents a share from 10 cents a year earlier, the company said in a press release Thursday. That's higher than the 10 cents expected by analysts surveyed by Capital IQ, according to MT Newswires.