Major U.S. stock averages rebounded Friday while markets remained on track for a losing week driven by fears of the Federal Reserve pulling back its stimulus.
The Dow Jones Industrials progressed 147.8 points to 35,041.72.
The S&P 500 climbed 27.56 points to 4,405.80.
The NASDAQ Composite leaped 148.14 points, or 1%, to 14,689.93.
Technology stocks traded in the green Friday, providing the market with support. Big Tech names like Microsoft and Netflix stocks moved higher. Chip stocks like Nvidia rose.
Tesla shares gained after Elon Musk’s electric car maker had an AI day, where it unveiled a new custom chip and plans to build a humanoid robot.
Still, all three major stock indexes are on track to close the week lower. The S&P 500 is down 0.7% for the week, while the Dow is off 1.3% and the NASDAQ is 0.9% lower.
Prices for 10-Year Treasurys failed to move, keeping yields at Thursday’s 1.24%.
Oil prices slipped 43 cents to $63.07 U.S. a barrel.
Gold prices shrank $1.80 to $1,781.30 U.S. an ounce.