Tech stocks staged a full rebound from last Friday's sell-off, with the Nasdaq 100 surging to 23,600 — just shy of the 23,700 all-time high set in late July, as the week’s strong sector earnings and broad gains among the Magnificent Seven fueled the rally.
- MAGS ETF is breaking past resistance. Check live prices here.
Apple Inc. (NASDAQ:AAPL) climbed 3.5% by midday in New York, extending weekly gains to over 12% and setting up its strongest week since August 2020.
The Magnificent Seven's combined market capitalization hit $19.5 trillion, matching last month's peak. NVIDIA Corp. (NASDAQ:NVDA) is once again testing record highs.
On the trade front, President Donald Trump unveiled a surprise import tariff on gold bars, a move expected to pressure Switzerland's refining industry. The price spread between New York gold futures and spot prices spiked to a record $90 per ounce. Bullion edged up 0.1% to $3,400 per ounce.
Geopolitically, reports suggest the U.S. and Russia are exploring a potential Ukraine ceasefire deal that would formalize some of Moscow's territorial gains, ahead of a possible Trump-Putin summit next week.
In commodities, oil briefly slipped below $64 a barrel before trimming losses, positioning to end a six-session losing streak.
Bitcoin (CRYPTO: BTC) fell 1.2% to $116,000.
Friday’s Performance In Major U.S. Indices, ETFs
| Major Indices | Price | 1-day chg. % |
| Nasdaq 100 | 23,590.19 | 0.9% |
| S&P 500 | 6,388.47 | 0.8% |
| Dow Jones | 44,184.34 | 0.5% |
| Russell 2000 | 2,220.90 | 0.3% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.7% to $585.50.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.5% to $441.85.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rallied 0.8% to $573.89.
- The iShares Russell 2000 ETF (NYSE:IWM) edged 0.4% higher to $220.72.
- The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 0.9%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 0.2%.
Friday’s Stock Movers
Stocks reacting to earnings reports included:
- Gilead Sciences, Inc. (NASDAQ:GILD) up 8.8%
- Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) down 6.4%
- Motorola Solutions, Inc. (NYSE:MSI) up 2.1%
- Monster Beverage Corporation (NASDAQ:MNST) up 6.3%
- Flutter Entertainment plc (NYSE:FLUT) down 7.4%
- Block, Inc. (NYSE:XYZ) down 2.7%
- Take-Two Interactive Software, Inc. (NASDAQ:TTWO) down 3.7%
- Consolidated Edison, Inc. (NYSE:ED) down 0.4%
- Live Nation Entertainment, Inc. (NYSE:LYV) up 2.4%
- Microchip Technology Incorporated (NASDAQ:MCHP) down 5.7%
- The Trade Desk, Inc. (NASDAQ:TTD) down 37.6%
- Expedia Group, Inc. (NASDAQ:EXPE) up 3%
- Pinterest, Inc. (NYSE:PINS) down 8.5%
- Natera, Inc. (NASDAQ:NTRA) up 10.8%
- Maplebear Inc. (NASDAQ:CART) up 5.9%
- Wynn Resorts, Limited (NASDAQ:WYNN) down 2.0%
- Akamai Technologies, Inc. (NASDAQ:AKAM) down 3.4%
Read Now:
Photo: Shutterstock