Wall Street rebounds as chipmakers recover from AI selloff
The S&P 500 and Nasdaq rose Friday, led by technology shares, but all three major indexes ended the week lower.
Key takeaways
- The S&P 500 rose 0.31% and the Nasdaq gained 1.1% on Friday.
- The Dow fell 0.46%, and all three indexes recorded weekly losses.
The S&P 500 rose 0.31% and the Nasdaq Composite gained 1.1% on Friday, recovering after a heavy AI-related selloff. The Dow Jones Industrial Average fell 0.46%, and all three indexes ended the week lower.
Technology, communication services and industrials led the gains. The Philadelphia Semiconductor Index climbed 4.2%, while Nvidia rose nearly 3% after its worst day since January 2025.
Investors have been concerned that Democratic election victories could lead to tighter US rules for the AI industry. The selloff has also reflected concerns that the cost of data centers and other infrastructure could limit future returns.
US nonfarm payrolls increased by 165,000, more than expected. Annual wage growth came in at 3.1%, rather than slowing below 3% as anticipated.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
