Stocks dipped lower Friday, even after the S&P 500 Index reached record intraday highs, as market participants continue bet on further growth under President Donald Trump's pro-business policies. The broader market index fell 0.3% lower, while the Dow Jones Industrial Average declined over 140 points and the Nasdaq Composite lost more than 0.5%.

All three major averages are still posted their second straight winning week, despite the afternoon sluggishness, as the bull market returns to Wall Street. Each index has risen around 2% to date.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): -0.29% or -17.47 points to 6,101.24

Dow Jones Industrial Average (DIA  ): -0.32% or -140.82 points to 44,424.25

Nasdaq Composite Index (QQQ  ): -0.50% or -99.38 points to 19,954.30

In the News:

Meta Platforms (META  ) shares rose Friday after CEO Mark Zuckerberg announced the the social media giant plans to invest between $60 billion to $65 billion in capital expenditure to build its artificial intelligence infrastructure this year, calling 2025 "a defining year for AI."

Meta plans to build a large datacenter comparable in size to "a significant part of Manhattan" to power its AI, expecting a bring on around 1 gigawatt in computing power and 1.3 million graphics processing units online by the end of the year.

"This is a massive effort, and over the coming years it will drive our core products and business, unlock historic innovation, and extend American technology leadership," Zuckerberg wrote in a Facebook post.

Meta's announcement comes days after Trump announced a new $500 billion AI infrastructure venture with OpenAI, SoftBank (SFtBY  ) and Oracle (ORCL  ) called Stargate. Microsoft (MSFT  ) and Amazon (AMZN  ) also announced similar plans earlier this month to invest tens of billions in fiscal 2025 to create data centers.

Novo Nordisk (NVO  ) shares climbed higher on Friday after the pharmaceutical giant reported positive early-stage trial results for its once-a-week obesity drug, amycretin. The trial showed that the injectable resulted in an average weight loss of 22% in obese and overweight patients after 36 weeks, compared with 2% weight gain amongst the placebo group.

"The results seen in the trial support the weight lowering potential of this novel unimolecular GLP-1 and amylin receptor agonist, amycretin, that we have previously seen with the oral formulation," said Martin Lange, executive vice president for development at Novo Nordisk, in a statement.

Boeing (BA  ) said late Thursday that is likely lost about $4 billion in its fourth-quarter, and now expects to report a loss of $5.4 per share on revenues of $15.2 billion -- below analyst expectations. The aerospace manufacturer also said is likely burned through $3.5 billion in cash throughout the quarter and raised more than $20 billion to boost liquidity. Boeing expects to take a $1.1 billion charge on its 777X and 767 programs due to its machinist union strike and new labor contract.

"Although we face near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful capital raise to improve our balance sheet," CEO Kelly Ortberg said in a press release.

Twilio (TWLO  ) announced new guidance for the next few years at a Thursday investor event, with the cloud communications software maker expecting adjusted operating margin to widen between 21% and 22% in 2027. The company also committed to generating $3 billion in free cash flow over the next three years, well above the nearly $692 million in free cash flow recorded for 2022, 2023 and 2024.

On the Economic Front:

U.S. Home Sales rose in December, the National Association of Realtors (NAR) reported Friday, marking its highest annual gain in three and a half years. Existing sales rose 2.2% from November to a seasonally adjusted annualized rate of 4.15 million last month -- in its best monthly reading since February and strongest annual print since June 2021.

"Home sales in the final months of the year showed solid recovery despite elevated mortgage rates," said Lawrence Yun, chief economist at NAR, in a statement. "Job and wage gains, along with increased inventory, are positively impacting the market."

U.S. Services and Manufacturing Activity was mixed in January, with services falling to a nine-month low while manufacturing moved into expansion territory for the first time in several months, the S&P Global reported Friday. The firm's services index slipped 4 points from December's print to 52.8, while the manufacturing index rose 2.5 pointing month-to-month to 50.2 -- readings above the neutral level of 50 indicate expansion.

U.S. Consumer Sentiment fell for the first time in six months in January, the University of Michigan reported Friday, as labor market and Trump tariffs concerns dampened recent positive sentiment growth. The headline index fell to 71.1 on the month, compared with January's preliminary reading of 73.2 and December's final print of 74.0.

"Despite reporting stronger incomes this month, concerns about unemployment rose," said Joanne Hsu, director of Surveys of Consumers, in a statement. "About 47% of consumers expect unemployment to rise in the year ahead, the highest since the pandemic recession."

Looking Ahead:

Market participants are set for another busy week of trading next week, with earnings from Microsoft, Meta Platforms, Tesla (TSLA  ) and Apple (AAPL  ) set to release throughout the week. The Federal Reserve will also hold its first policy setting meeting of the year.

This article has finished updating.