Stocks gained ground on Wall Street Friday for a second straight day, wiping away losses from earlier in the week.
Technology stocks were once again the main force behind the market’s broader moves, especially companies with a focus on artificial intelligence. Both the S&P 500 and the Nasdaq closed out the week with gains, despite several stumbles early this week.
The S&P 500 rose 59.74 points, or 0.9%, to 6.834.50. It notched a 0.1% gain for the week. The Dow Jones Industrial Average rose 183.04 points, or 0.4%, to 48.134.89.
The technology-heavy Nasdaq made the biggest move. It rose 301.26 points, or 1.3%, to 23.307.62 and notched a 0.5% gain for the week.
Nvidia was the biggest force driving the market higher, with a 3.9% gain. Broadcom jumped 3.2%.
The technology sector has been fueling Wall Street throughout the year as companies with outsized values like Nvidia exert more pressure on markets. But, those pricey stock values have come under more scrutiny from investors wondering whether they are justifiable.
Oracle rose 6.6% on news that it, along with two other investors, had signed agreements to form a new TikTok U.S. joint ventur e. Oracle, Silver Lake and MGX each get a 15% share in the popular social video platform, ensuring that it can continue operating in the U.S.
Stocks gained ground on Wall Street Friday for a second straight day, wiping away losses from earlier in the week.
Technology stocks were once again the main force behind the market’s broader moves, especially companies with a focus on artificial intelligence. Both the S&P 500 and the Nasdaq closed out the week with gains, despite several stumbles early this week.
The S&P 500 rose 59.74 points, or 0.9%, to 6.834.50. It notched a 0.1% gain for the week. The Dow Jones Industrial Average rose 183.04 points, or 0.4%, to 48.134.89.
The technology-heavy Nasdaq made the biggest move. It rose 301.26 points, or 1.3%, to 23.307.62 and notched a 0.5% gain for the week.
Nvidia was the biggest force driving the market higher, with a 3.9% gain. Broadcom jumped 3.2%.
The technology sector has been fueling Wall Street throughout the year as companies with outsized values like Nvidia exert more pressure on markets. But, those pricey stock values have come under more scrutiny from investors wondering whether they are justifiable.
Oracle rose 6.6% on news that it, along with two other investors, had signed agreements to form a new TikTok U.S. joint ventur e. Oracle, Silver Lake and MGX each get a 15% share in the popular social video platform, ensuring that it can continue operating in the U.S.
