S&P 500, Nasdaq Snap Five-Day losing Streak, But Still Close Lower on The Week
Stocks closed higher Friday as Wall Street recovered following a shaky start to the new year.
The S&P 500 closed up 73.92 points, or 1.26%, at 5,942.47, and the Dow Jones Industrial Average advanced 339.86 points, or 0.8%, to end the day at 42,732.13. The Nasdaq Composite gained about 340.88 points, or 1.7%, to close at 19,621.68.
Tech stocks were a bright spot for the market on Friday. Chip giant Nvidia climbed 4.7%, while server maker Super Micro Computer jumped 10.9%.
Those stocks could benefit from continued spending on artificial intelligence, as will Constellation Energy and Vistra, with shares up 4% and 8.5%, respectively. Microsoft announced Friday that it would spend $80 billion on AI-enabled data centers in the 2025 fiscal year, and power producers have been boosted by the trend.
The rally on Friday was broad, though some of the best performers were also big winners during last year’s rally.
Source : CNBC