NEW YORK — Chip stocks bounced back on Friday and lifted the Nasdaq composite 1.1%, clawing back part of a sell-off that had handed Wall Street its worst day since last year’s tariff-driven tailspin, Investopedia reported.
The Dow spent much of the morning in positive territory before fading to a close of 51,285.73, down 237.33 points, or 0.5%. At 7,376.86, the S&P 500 was up 0.3% on the day.
The Nasdaq finished at 24,579.42, up 264.43 points. A day earlier it had fallen more than 5% and recorded its biggest one-day point drop ever, while the Dow shed 1,800 points and gave back the large gains that followed Tuesday’s midterm elections.
Chip stocks lead the recovery
The companies hit hardest on Thursday did much of the lifting on Friday. The iShares Semiconductor ETF rose 3.5% after plunging 12% a day earlier.
Nvidia climbed nearly 3%. Advanced Micro Devices jumped 11%, Intel added 8% and Micron rose 5%.
SanDisk, which had dropped 22% on Thursday to lead the S&P 500’s decliners, gained 3.5%. Nebius, a cloud service provider, rose nearly 8%, and SpaceX surged 9% after losing 13% over the previous two days.
Cloudflare climbed 10%. The networking and security company, an AI investor favorite, had reported its results after Thursday’s closing bell.
Earnings movers and the jobs report
Airbnb jumped 12% after the short-term rental company raised its outlook. Humana and Moderna each gained 5% after their earnings reports, while DraftKings fell 21%.
Investors also had fresh jobs data to weigh. Employers added 165,000 jobs in October and the unemployment rate fell to 4.1%, figures that will feed into the Federal Reserve’s next rate decision.
Friday’s gains did not undo the week. The S&P 500 fell 2.7% over the five days, its largest weekly decline since April 2025, and the Nasdaq dropped 3.4%, with both indexes down for a fourth straight week. The Dow lost 0.9% for the week.
Elsewhere, West Texas Intermediate crude held near $90.50 a barrel, gold futures fell nearly 1% to about $4,075 an ounce, bitcoin traded little changed at $75,800 and the 10-year Treasury yield ticked up to 4.86%.
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