Stock market today: Live updates

The tech-heavy Nasdaq gained 0.3%, while the broad market S&P 500 traded around the flatline. The blue-chip Dow traded lower by 306 points, or 0.6%, dragged by a 3% slide in Goldman Sachs.

Shares of Nvidia and Advanced Micro Devices were among those supporting the two indexes’ advances, each climbing more than 1%. The moves come as people familiar with the matter told CNBC that Nvidia CEO Jensen Huang is planning to visit China in the coming days. Other tech names like Microsoft saw a boost as well.

Intel shares, in contrast, tumbled 16% after the chipmaker reported a disappointing first-quarter outlook.

The three major averages rallied for a second session on Thursday as investors were appeased by news of easing trade tensions and geopolitical risk.

The indexes began their rebound Wednesday after President Donald Trump called off his threatened tariffs on the imports of eight European nations — which were set to start Feb.1 — and announced that he and NATO Secretary General Mark Rutte reached a “framework of a future deal with respect to Greenland.”

Trump had also told CNBC on Wednesday that “we have a concept of a deal” with the Arctic island.

“Investors this week welcomed a term that kind of started around Liberation Day or shortly thereafter — the ‘TACO’ trade,'” said Scott Ellis, managing director, corporate credit at Penn Mutual Asset Management. “Maybe investors will will look to that in the future as Trump kind of walks back and this administration walks back some of the rhetoric in order to get deals done.”

To be sure, Greenland Prime Minister Jens-Frederik Nielsen said on Thursday he doesn’t know what’s in the “framework” deal that Trump announced, stressing that any such deal must respect Greenland’s sovereignty and territorial integrity.

While the combined gains on Wednesday and Thursday had erased the Dow’s losses from earlier in the week, Friday’s move put it back in the red. The 30-stock Dow is down 0.6% on the week. The S&P 500 and Nasdaq are on track for their second negative week in a row, with the former down 0.5% and the latter lower by 0.1%.