Traders at the New York Stock Exchange saw stocks surge on Friday, setting the stage for a bullish close to a week marked by volatility. Investors shifted their focus back to technology stocks after grappling with concerns over how artificial intelligence could impact the software sector. The Dow Jones Industrial Average climbed 918 points, or 1.9%, bolstered by gains in industrial stalwarts like Caterpillar and financial giants such as Goldman Sachs. Meanwhile, the S&P 500 and the Nasdaq Composite rose 1.4% and 1.5%, respectively.
Despite the day’s gains, the S&P 500 returned to positive territory for 2026, although it remains on track for a loss this week. Both the S&P 500 and the Nasdaq are facing declines nearing 1% and over 2%, respectively, while the Dow stands nearly 2% higher week-to-date. A notable rebound among tech stocks helped uplift the broader market, with Nvidia and Microsoft emerging as key winners; Nvidia jumped 6%, while Microsoft saw a 1% increase-significant recoveries after experiencing substantial losses earlier in the week.
Amazon, however, was a standout underperformer, with shares plummeting 8% after the e-commerce behemoth reported earnings per share that fell short of analysts’ expectations and signaled a hefty $200 billion in capital expenditures for the year ahead. This development generated concern among investors, contributing to the mixed sentiments affecting the tech sector.
In the cryptocurrency arena, Bitcoin regained some momentum, rising 9% to surpass $69,000 after briefly dipping below $61,000 overnight. Though this bounce helped alleviate some of the apprehension in the broader market, Bitcoin is still grappling with a 17% decline for the week.
The uplift in the market followed a challenging day on Thursday, during which technology stocks, particularly software equities, faced notable declines. The iShares Expanded Tech-Software Sector ETF (IGV) dropped by another 5%. However, in a positive turn, the software sector fund bounced back on Friday, increasing by 1%, though it remains down 10% for the week-its largest weekly decline since 2008.
Barclays equity strategist Venu Krishna remarked, “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. 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 overall market downturn accompanies a broader risk-off sentiment, affecting various asset classes. Silver, a volatile asset popular with retail investors, continued its downward trajectory on Thursday. On Friday, silver futures extended losses, contrasting with spot silver prices, which experienced a surge.
As investors navigate these fluctuating market conditions, the focus will remain on the interplay between technological advancements and financial performance in the coming weeks.
Categories: Stock Market, Technology, Cryptocurrency
Tags: NYSE, Dow Jones, S&P 500, Nasdaq, Artificial Intelligence, Bitcoin, Silver Prices
Original Source: https://www.cnbc.com/2026/02/05/stock-market-today-live-updates.html
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Publish Date: 2026-02-06 22:09:00
