US EditionWall Street Bounces Back as Tech Stocks Recover and Bitcoin Stops Plunging
Chipmakers rallied on hopes of Big Tech spending $200 billion on AI, while Bitcoin steadied after a major plunge, despite ongoing investor concerns about profitability.
- On Friday, U.S. stocks climbed as the S&P 500 up 0.9%, the Dow up 1.2%, and the Nasdaq up 0.8% after a volatile week.
- Big Tech firms said late Thursday they plan to spend about $200 billion, raising investor concerns over AI profits and software stock sell-offs.
- Hardware stocks, notably Nvidia and Broadcom, rose in early trading as chip companies helped drive the gains, with Nvidia rallying 4.9% and Broadcom climbing 3.8%.
- Crypto-Linked firms recouped losses as Robinhood jumped 11.7%, Coinbase rose 7.3%, Strategy soared 15.9%, and smaller U.S. companies in the Russell 2000 gained 2.3%.
- Market volatility continued, with bitcoin and gold showing divergent moves as bitcoin remains down 20% for the week and gold rose 2% to $4,986.20 per ounce.
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50 Articles
Pittsburgh Post-Gazette
Wall Street bounces back as tech stocks recover some losses and bitcoin stops plunging
NEW YORK — U.S. stocks are bouncing back from big swings that pummeled them this week. The S&P 500 rose 0.9% early Friday. The Dow Jones Industrial...
The Bakersfield Californian
Tech shares, bitcoin stabilize after a week of severe declines
Wall Street is poised to open with gains as the technology sector bounce back from a string of losses. Bitcoin’s slide appeared to stabilize. Futures for the S&P 500 and Dow each rose 0.5% before markets opened Friday. Nasdaq futures…
US stocks roar toward their best day since May as Dow surges 1,000 points and bitcoin stops plunging
The U.S. stock market is roaring back on Friday, as technology stocks recover much of their drops from earlier in the week and bitcoin halts its plunge, at least for now.The S&P 500 jumped 1.7% Friday and was heading toward its best day since May. The Dow Jones Industrial Average soared 1,102 points, or 2.2%, and topped the 50,000 level for the first time. The Nasdaq composite was up 1.9%, as of 2:30 p.m. Eastern time.Chip companies helped drive…
Dow jumps 1,000 points as Nvidia, Broadcom spark tech-led market comeback
The Dow exploded higher on Friday, surging roughly 1,000 points as a targeted rebound in chipmakers eased a bruising week for US markets. After several sessions of sharp tech-led selling, investors stepped back into large-cap semiconductors and cyclical names. The rebound lifted the Dow to one of its strongest single-day advances this year and pushed major indexes back toward weekly equilibrium. Nvidia, Broadcom lead the tech repair job The turn…
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