US stocks weekly: Blast radius
SPY•The S&P 500 rose 2.5% to snap a four-week losing streak, while the Dow gained 2.1% and the Nasdaq rose 2.3%. Energy led sectors with a 5.1% gain, while Nvidia turmoil weighed on AI-linked stocks.
1. Stocks rebound for week
The S&P 500 rose 2.5%, ending a four-week losing streak, as bargain hunters stepped in. The Dow gained 2.1% and the Nasdaq Composite advanced 2.3%.
2. Nvidia fallout shakes AI trade
Nvidia shares fell after the company’s board probed CEO Jensen Huang over spy claims and he stepped down following revelations of two extramarital affairs. CoreWeave’s results and outlook soothed concerns on Wednesday, but AI stocks resumed their slide on Friday. AMD and Broadcom rose about 19% and 18%, respectively, over the week, and the semiconductor index gained 8.1%.
3. Energy leads sectors
Energy rose 5.1%, following higher oil prices amid uncertainty over talks to end the war in Iran and comments from Trump that raised doubts about a deal. The 10-year Treasury yield rose to around 5.14% after hot inflation data and hawkish Federal Reserve commentary, ending five straight weeks of declines.
