Tech and AI Stocks Drive Second Straight Wall Street Gain as Nasdaq Jumps 1.3%

Cooling inflation readings bolstered rate-cut expectations, channeling fresh buying into chips and AI leaders.

Overview

At the close, the Nasdaq rose 1.31% to 23,307, the S&P 500 added about 0.82%, and the Dow gained 0.38%.
Semiconductor and AI shares led the move, with Micron rallying on an upbeat outlook and Nvidia advancing roughly 3.9%.
Seven of 11 S&P 500 sectors finished higher, paced by information technology, while utilities declined.
Despite back-to-back gains, the major indexes ended the week lower: Dow -1.19%, S&P 500 -0.76%, Nasdaq -0.77%.
Nike dropped more than 10% after a second consecutive gross-margin slide and disappointing sales in China.