Wall Street finishes its winning week with more records

NEW YORK (AP) — Most U.S. stocks ticked higher on Friday, sending Wall Street to more records.

The S&P 500 edged up by less than 0.1% to close out its seventh winning week in the last nine, and the Dow Jones Industrial Average climbed 238 points, or 0.5%. Both added to their all-time highs set the day before. The Nasdaq composite lost an early gain and slipped 0.3% from its own record.

Usually, the first Friday of each month has Wall Street transfixed on the monthly jobs update that the U.S. government publishes. It shows how many jobs employers created and destroyed, while also updating the unemployment rate.

Such data is particularly important now, given how much on Wall Street is riding on the expectation that the job market is continuing to slow by enough to get the Federal Reserve to keep cutting interest rates. But the shutdown of the U.S. government, now in its third day, is delaying the release.

So far, the U.S. stock market has looked past such delays, including Thursday’s scheduled report on unemployment claims.

Past shutdowns of the U.S. government have tended not to hurt the economy or stock market much, and the thinking is that this one could be similar, even if President Donald Trump has threatened large-scale firings of federal workers this time around.

That leaves excitement around artificial intelligence and the massive spending underway because of it as one of the main drivers of the U.S. stock market, which has been setting record after record.

The industry got another boost after Japan’s Hitachi signed a memorandum of understanding with OpenAI related to powering AI. It followed an earlier set of announcements by OpenAI with South Korean companies, which vaulted stock prices higher there. Hitachi’s stock jumped 10.3% in Tokyo.

AI stocks have become so dominant, and so much money has poured into the industry that worries are rising about a potential bubble that could eventually lead to disappointment for investors.

Nvidia, the stock that’s become the poster child of the AI boom, lost an early gain during the morning to finish with a dip of 0.7%.

Applied Materials fell 2.7%. The company, whose equipment helps make semiconductor chips, said it will take a roughly $110 million hit to its revenue in the fourth quarter because of a new U.S. Commerce Department rule expanding export restrictions to certain customers based in China.

But gains for oil producers helped offset such losses. Exxon Mobil climbed 1.8%, and Diamondback Energy rose 3% as the price of crude clawed back some of its sharp losses from earlier in the week. Oil prices had been struggling on worries that the amount of crude in inventories will be too high relative to demand.

Entergy climbed 1.9% after saying its Arkansas business will deliver power for Google’s planned $4 billion investment in the state, including a new data center.

All told, the S&P 500 added 0.44 to 6,715.79 points. The Dow Jones Industrial Average climbed 238.56 to 46,758.28, and the Nasdaq composite fell 63.54 to 22,780.51.

In stock markets abroad, indexes were mixed across Europe and Asia.

Japan’s Nikkei 225 was a big winner and rose 1.9% thanks in part to Hitachi’s jump.

In the bond market, the yield on the 10-year Treasury rose to 4.12% from 4.10% late Thursday.

Reports came in mixed on activity for U.S. businesses in the health care, real estate and other services industries. One from the Institute for Supply Management said growth is stalling, while another from S&P Global said it’s still growing slowly.

AP Writers Teresa Cerojano and Matt Ott contributed.

FILE - The New York Stock Exchange is seen in New York, July 14, 2025. (AP Photo/Seth Wenig, file)

FILE - The New York Stock Exchange, Tuesday, Jan. 28, 2025, in New York. (AP Photo/Julia Demaree Nikhinson, File)

FILE - A sign outside the New York Stock Exchange marks the intersection of Wall and Broad Streets, Tuesday, Jan. 28, 2025, in New York. (AP Photo/Julia Demaree Nikhinson, File)

Financial information is displayed as traders work on the floor at the New York Stock Exchange in New York, Wednesday, Oct. 1, 2025. (AP Photo/Seth Wenig)

NEW YORK (AP) — Ten years ago, Kim Gordon — a revolutionary force in the alternative rock band Sonic Youth, the ’80s New York no wave scene and the space between art and noise — debuted solo music. At the time, she was already decades into a celebrated, mixed-medium creative career.

The midtempo “Murdered Out” was her first single, where clangorous, overdubbed guitars met the unmistakable rasp of her deadpan intonations. It was a surprise from an experimentalist well-versed in the unexpected: The song took inspiration from Los Angeles car culture, and its main collaborator was the producer Justin Raisen, then best known for his pop work with Sky Ferreira and Charli XCX. Their partnership has continued in the decade since, and on March 13, Gordon will drop her third solo album, “Play Me,” announced Wednesday alongside the release of a hazy, transcendent single, “Not Today.”

“It was a happy accident,” she says of her continued work with Raisen. “In the beginning, I was somewhat skeptical of working with a producer and collaborator, really. But it’s turned out to be incredibly freeing.”

“Play Me” follows Gordon's critically lauded, beat-heavy 2024 album “The Collective,” a noisy body of work that featured oddball trap blasts. It earned her two Grammy nominations — a career first — for alternative music album and alternative music performance. Those were for the song “Bye Bye,” with its eerie, dissonant beat originally written for rapper Playboi Carti. For “Play Me,” Gordon reimagined the track for the closer, “Bye Bye 25!” She says it was the result of her thinking about the rap world, where revisiting and remixing is commonplace.

“I came up with the idea of using these words that Trump had sort of ‘banned’ in his mind,” she says of the new song's lyrics. (An example: “Injustice / Opportunity / Dietary guidelines / Housing for the future.” President Donald Trump’s administration associates the terms with diversity, equity and inclusion initiatives, which it has vowed to root out across the government.) For Gordon, because it became “more conceptual … the remake doesn’t seem as anxiety-provoking as the original.”

There is a connective spirit between “The Collective” and “Play Me” — a shared confrontation, propulsive production and songs that possess a keen ability to process and reflect the world around Gordon. “It does feel kind of like an evolution,” she says of this album next to her last. “It’s sort of a more focused record, and immediate.” The songs are shorter and attentive.

Or, to put it more simply: “I like beats and that inspires me more than melodies,” she says. “Beats and space.”

That palette drives “Play Me,” a foundation in which staccato lyricism transforms and offers astute criticism. Consider the title track, which challenges passive listening and the devaluation of music in the age of streaming. She names Spotify playlist titles, imagined genres defined by mood rather than music. “Rich popular girl / Villain mode” she speak-sings, “Jazz and background / Chillin' after work.”

“It's just representative of, you know, this era we're in, this culture of convenience,” she says. “Music always represented a certain amount of freedom to me, and it feels like that’s kind of been blanketed over.”

Sonically, it is a message delivered atop a '70s groove, placing it in conversation with an era unshackled from these digital technologies.

The title, too, “is playing off the sort of passive nature of listening to music,” she says, “But also it could be seen as defiant. Like, I dare you to play me.”

There's also the blown-out “Subcon,” which examines the world's growing billionaire class and their fascination with space colonialization in a period of economic insecurity. In the song, Gordon's lyrical abstractions highlight the absurdity, taking aim at technocrats.

“I find reality inspirational, no matter how bad it is,” she says. Where some artists might veer away from the news, Gordon tackles truth. “I’m not sure what music is supposed to be. So, I’m just doing my version of it.”

In the end, she hopes listeners are “somewhat thrilled by” the album.

“'This is the music that I’ve wanted to hear,’ kind of feeling. Does that sound egotistical? I don’t know,” she laughs. If it is, it is earned.

1. “Play Me”

2. “Girl with a Look”

3. “No Hands”

4. “Black Out”

5. “Dirty Tech”

6. “Not Today”

7. “Busy Bee”

8. “Square Jaw”

9. “Subcon”

10. “Post Empire”

11. “Nail Bitter”

12. “Bye Bye 25!”

Kim Gordon poses for a portrait in New York on Tuesday, Dec. 9, 2025. (Photo by Taylor Jewell/Invision/AP)

Kim Gordon poses for a portrait in New York on Tuesday, Dec. 9, 2025. (Photo by Taylor Jewell/Invision/AP)

Kim Gordon poses for a portrait on Tuesday, Dec. 9, 2025, in New York (Photo by Taylor Jewell/Invision/AP)