Market Rebounds as Tech Stocks Lead the Charge

In a refreshing turn of events, the US stock market closed higher on Friday, with the S&P 500 snapping its five-day losing streak by gaining 1.2%. This uplift was observed as investors digested the latest manufacturing data report.

Tech giants were at the forefront of this rally. Microsoft, in particular, buoyed market spirits with its announcement of an $80 billion investment in AI-enabled data centers for fiscal 2025.

Significant Gains Across the Board

By the closing bell, the Dow Jones had increased by 0.80%, with Nvidia seeing a notable rise of 4.43%. The Nasdaq 100 wasn't far behind, adding 1.67% to its value. Microstrategy led the pack with an impressive 13.22% improvement, while the S&P 500 enjoyed a 1.26% rise, thanks in part to Super Micro Computer's 10.47% advance.

On the currency front, the euro appreciated by 0.43% against the dollar, trading at $1.03061 by 3:58 pm ET.