US Stocks Recover
US equities rebounded on Friday, recovering from sharp losses in the previous session, as easing concerns over AI-driven disruption lifted tech shares.
The S&P 500 climbed 1%, the Nasdaq advanced 0.7%, and the Dow Jones surged 760 points to a fresh record high. Gains in industrials, financials, and real estate also supported the broader market, more than offsetting weakness in the consumer discretionary sector.
Nvidia rose 3.1%, Broadcom gained 3.5%, and AMD jumped 5.1%. Mega-cap stocks were mostly higher, with Apple up 1.4%, Microsoft gaining 1.5%, Tesla rising 2.1%, JPMorgan climbing 3.2%, Oracle advancing 4.1%, and Bank of America adding 1.6%. In contrast, Amazon slid nearly 9% after the company announced plans to invest $200 billion in AI infrastructure this year, a pace of spending that outstripped growth in its cloud revenue. Meta also traded lower, down 0.7%. For the first week of February, the S&P is down about 2%, the Nasdaq has fallen 4%, while the Dow is little changed.
Source: Tradingeconomics.com
