US stock indices were little changed on Friday as optimism from recent tech earnings weighed against macroeconomic risks. The S&P 500 was flat near its record high, while the Nasdaq 100 and Dow also hovered with little movement. Chip producers extended their strong gains from earlier in the week, with Sandisk adding more than 5% following its 14% surge yesterday, while Micron jumped 4% on bullish recommendations from analysts and brokers. The fresh wave of long positions on AI infrastructure were also underpinned by signals of more spending by hyperscalers, with both OpenAI and Anthropic aiming for IPOs this year, while the latter moved to acquire Decart. Still, inflationary risks maintained some bets that the Federal Reserve may raise rates this year, with President Trump stating economic pressure on Iran will remain for longer, halting oil exports from the region. Industrials and banks continued to underperform. Also, Applied Materials dropped 5% despite beating forecast estimates.