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U.S. stocks rose on Friday on the back of Oracle as the artificial intelligence industry looks to regain its footing after experiencing volatility.
of Nasdaq Composite It rose 1.2%. of S&P500 While it rose by 0.9%, Dow Jones Industrial Average We advanced by 259 points (0.5%).
oracle Shares rose more than 7% after TikTok agreed to sell its U.S. operations to a new joint venture that includes software giant and private equity investor Silver Lake.
The rise marks a turnaround for the stock, which had been under pressure this week after reports revealed the cloud infrastructure company had lost a key backer on one of its data center projects due to concerns about the company’s debt and AI spending levels. As a result, other AI-related stocks also fell. broadcom and advanced micro device.
Elsewhere, AI chip darling stocks Nvidia Shares rose more than 3% after Reuters reported, citing sources familiar with the matter, that the Trump administration is considering the possibility of selling the company’s advanced AI chips to China. Earlier this month, President Donald Trump said he would allow Nvidia to ship its H200 AI chips to “approved customers” in the country.
moreover, micron technology The stock extended its gains from the previous session, rising more than 7%. Shares rose 10% on Thursday after the company provided a firm outlook for this quarter’s earnings, reassuring investors after recent trading was disrupted by confusion over its AI deal.
“The onslaught of issuance from some hyperscalers and some AI deals could weigh on the market through 2026,” Tom Garretson, senior portfolio strategist at RBC Wealth Management, told CNBC. “But again, these companies are some of the best-regarded in terms of creditworthiness. They clearly have the ability to increase debt to raise these funds.”
“We still expect some of the capital spending to support a broader or perhaps better growth backdrop,” he said.
On Friday, options on four types of securities are scheduled to expire on the same day, an event known as “quadruple witching” that could destabilize the market. More than $7.1 trillion in notional option exposures are set to expire this Friday, the largest option expiry ever, according to Goldman Sachs.
this is, S&P500 and Dow Both ended their four-day losing streaks in the previous session. Broad indexes were little changed this week after Friday’s moves, although the Nasdaq rose 0.3%. However, the Dow Jones Industrial Average is still down 0.5% since the beginning of the week.
nike The sports apparel giant was one of the day’s losers, as its stock price fell about 11% after its revenue in Greater China fell in the second quarter of its fiscal year. The company is also feeling the pain of the tariff hike, pointing to the hit to its gross profit from the tariff hike.
