US Stocks Inch Higher as Chips Bump Offsets ‘Expensive’ S&P 500

The S&P 500 Index closed slightly in the green on Friday, as gains for semiconductor stocks helped mute concern about stretched valuations. Optimism about next week’s massive CES conference and signs President Donald Trump was easing up on tariff policies also boosted sentiment during the first trading day of the year.

The benchmark index rose 0.2%, with eight of 11 sectors in the green, led by energy and industrials. Consumer discretionary, communications and consumer staples declined. The Nasdaq 100 Index slipped 0.2%.