US stocks jumped on Friday, set to rebound from a weeklong tech bruising as Wall Street reassessed worries about the impact of AI disruption and the risks of hefty Big Tech spending.
The Dow Jones Industrial Average (DJI) led the way higher, surging by about 2.2%, or more than 1,000 points, to climb ahead of the 50,000 level for the first time. The S&P 500 (^GSPC) rose 1.7%, while the Nasdaq Composite (IXIC) added about 2%, as the indexes bounced back from Thursday’s sharp closing losses and a week’s worth of selling pressure.
Wall Street is ending the week with a bounce back, as Big Tech CEOs and analysts brush aside concerns about the impact of new AI tools on legacy tech. The S&P 500 again turned positive for 2026, but the benchmark and the Nasdaq remain on track for weekly losses.
Some of tech’s biggest names led the charge. Nvidia (NVDA) surged over 7%, while Broadcom (AVGO) and Tesla (TSLA) posted sizable gains. Some tech gloom persisted as Amazon’s (AMZN) shares tumbled 7%. In its earnings, the major cloud provider outlined plans for a massive 2026 jump in spending to at least $200 billion, even as its forecast for operating income fell short.
