06.02.202614:43:26UTC+00US Stocks Recover

US equities experienced a resurgence on Friday, bouncing back from significant declines in the previous session, as concerns around AI-driven disruptions receded, bolstering technology stocks. The S&P 500 rose by 0.6%, the Nasdaq increased by 0.4%, and the Dow Jones jumped 450 points. The overall market was buoyed by gains across industrials, financials, real estate, and healthcare sectors, effectively compensating for the downturn witnessed in the consumer discretionary sector. Notably, Nvidia's shares rose by 3.1%, Broadcom saw a 3.5% increase, and AMD climbed by 5.1%. The larger-cap stocks mostly experienced a positive trend, with Apple advancing 1.4%, Microsoft increasing 1.5%, Tesla going up by 2.1%, JPMorgan rising 3.2%, Oracle moving ahead by 4.1%, and Bank of America growing 1.6%. Conversely, Amazon's shares dropped nearly 9% following the announcement of its intentions to invest $200 billion in AI infrastructure this year, a rate of expenditure that outpaced the growth of its cloud revenue. Meta also saw a slight decline, trading down by 0.7%. Over the first week of February, the S&P dropped approximately 2%, the Nasdaq decreased around 4%, while the Dow remained relatively unchanged.