AI stocks climb after trillions wiped from market values
Summary
U.S. technology stocks rose in early trading Friday, recovering some losses from Thursday's broad sell-off. Investors were weighing concerns about AI regulation and spending alongside stronger-than-expected U.S. jobs figures.Key Facts
- The Nasdaq Composite opened 1.23% higher and rose further in early trading, after falling 5.5% on Thursday.
- The S&P 500 opened slightly higher, while the Dow Jones Industrial Average opened slightly lower.
- Nvidia shares rose more than 6% in early Friday trading after falling more than 9% on Thursday.
- SpaceX shares gained more than 7%, and Tesla shares rose nearly 3% in early trading.
- U.S. employers added 165,000 jobs in October, more than analysts had expected.
- The unemployment rate edged down to 4.1% from 4.2% in September.
- Professional and business services added 70,000 jobs, while health care added 42,000.
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