New York Stock Exchange Ends Friday Up
The Dow Jones Industrial Average vaulted 2.47%, gaining 1,206.95 points to settle at 50,115.67.
The Nasdaq rocketed 2.18%, adding 490.63 points to reach 23,031.21, while the S&P 500 climbed 1.97%, advancing 133.9 points to 6,932.30.
The Volatility Index (VIX)—widely recognized as the "fear index"—plummeted 18.42% to 17.76 points.
Following a turbulent week marked by relentless technology stock liquidation, equity markets staged a dramatic comeback during Friday's final trading session.
Mounting anxiety over artificial intelligence infrastructure investments eroding corporate earnings, combined with signals of weakening US labor market conditions, had severely dampened investor risk appetite throughout the week.
Corporate earnings reports dominated market attention, with investors scrutinizing how escalating AI development costs impacted company balance sheets.
Amazon, the American e-commerce behemoth, suffered sharp declines after fourth-quarter net sales surpassed projections but profit margins disappointed analysts, while management elevated its 2026 capital expenditure forecast to $200 billion.
Amazon's capital expenditures totaled $131 billion in 2025.
As the AI arms race intensifies, Amazon joined Alphabet among major technology corporations announcing aggressive spending expansion plans.
Semiconductor manufacturers rallied on speculation that heightened AI investments from firms like Amazon and Alphabet would boost chip demand.
Nvidia shares jumped 7.9%, AMD surged 8.3%, and Broadcom advanced 7.1%.
Software enterprises—battered earlier in the week amid fears that rapidly advancing AI capabilities could cannibalize demand for certain products—experienced share price recoveries.
Oracle stock climbed 4.7% while CrowdStrike gained 4.9%.
On the economic data front, the University of Michigan's consumer confidence index jumped to 57.3 in February, beating analyst forecasts.
Figures released ahead of next week's inflation data revealed consumers' short-term inflation expectations declined from 4% in January to 3.5%, marking the lowest reading since January 2025.
Long-term inflation expectations ticked upward for the second straight month, rising from 3.3% to 3.4%.
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