Stocks rose on Friday, positioning the market for a positive end to a volatile week that saw investors disappointed over tech stocks and fearing a cryptocurrency collapse.
The S&P 500 added 0.6%, while the Nasdaq Composite traded up 0.3%. The Dow Jones Industrial Average advanced 450 points, or 0.9%.
The gains came even as Amazon shares sank 8% after the ecommerce giant posted earnings per share slightly under analyst expectations and told investors to expect $200 billion in capital expenditures this year. On the other hand, Reddit popped 7% after the social media platform announced an earnings beat, strong guidance and a stock buyback program.
Despite the issues with Amazon, other tech shares popped: Nvidia rose 3%, and Microsoft moved higher by more than 1% after both companies saw close to double-digit percentage drops this week.
Bitcoin tumbled 16% overnight, briefly sinking below $61,000. However, the crypto leader recouped some losses Friday, adding 5% to climb back above $67,000.
The action followed a rough day on Wall Street, with the market once again bogged down by technology stocks. The day’s loses put the S&P 500 into the red for 2026 alongside the Nasdaq, and the two have slid roughly 2% and 4% on the week, respectively. The Nasdaq in particular is on track for its worst week since the tariff-induced market rout seen in early April. The Dow is sitting around flat week to date.
Software stocks continued sliding Thursday, with the iShares Expanded Tech-Software Sector ETF (IGV) losing another 5%. The software sector fund has dropped more than 11% this week, on track for its biggest weekly decline since 2008 amid mounting concerns over the threat artificial intelligence poses to the sector.
“The reassessment of AI sentiment does not materially alter our constructive view on the fundamentals of the Big Tech companies at the center of the AI capex cycle,” said Barclays equity strategist Venu Krishna. “Their valuations remain compelling, and we continue to see their earnings profiles as resilient even as the market temporarily steps back from AI‑driven narratives.”
The recent stock market slid alongside other asset classes, signaling a broader risk-off sentiment among traders.
The sell-off on silver — a volatile trade that’s become popular among retail investors recently — resumed on Thursday. On Friday, silver futures prices extended their losses, while spot silver climbed.