Major United States benchmark averages lifted on Friday, as technology stocks staged a sharp rebound following days of heavy selling.
The Dow Jones Industrial Average climbed 1,207.0 points or 2.5%, to finish at a fresh record highs of 50,115.7. The S&P 500 rose 133.9 points or 2% to 6,932.3, while the Nasdaq Composite advanced 490.6 points or 2.2% to 23,031.2.
Despite the strong session, weekly performance remained mixed. The Dow rallied 2.5% for the week, the S&P 500 edged down 0.1%, and the Nasdaq declined 1.8%.
Technology heavyweights led Friday’s recovery. Nvidia jumped nearly 7.9%, and Broadcom gained 7.2%, rebounding after steep losses earlier in the week.
Oracle and Palantir Technologies added 4.7% and 4.5%, respectively, as investors stepped back into previously battered names at lower valuations.
However, some software stocks remained under pressure. ServiceNow, which has been at the centre of the recent artificial intelligence-driven sell-off in software, fell 1.8%, bringing weekly declines to 13.9%.
Cryptocurrencies also stabilised. Bitcoin rose 12.4% on Friday to touch an intraday high of $71,707.85 after briefly falling below $61,000 overnight, marking its lowest level since October 2024.
Friday’s rebound helped ease risk-off concerns that had recently unsettled broader markets, though Bitcoin remains down 8.1% for the week.
Amazon was a notable underperformer. Shares fell more 5.6% after the e-commerce group reported earnings per share slightly below analysts’ expectations and indicated that capital expenditures would reach $200 billion this year, raising investor concerns about spending levels.
On the bond markets, Treasury yields moved higher. The 10-year yield rose 0.5% to 4.208%, while the two-year yield gained 1% to 3.495%.
