US stocks roar toward their best day since May as Dow surges 1,000 points and bitcoin stops plunging

NEW YORK (AP) — The U.S. banal marketplace is roaring backmost connected Friday, arsenic exertion stocks retrieve overmuch of their drops from earlier successful the week and bitcoin halts its plunge, astatine slightest for now.

The S&P 500 jumped 1.7% Friday and was heading toward its champion time since May. The Dow Jones Industrial Average soared 1,102 points, oregon 2.2%, and topped the 50,000 level for the archetypal time. The Nasdaq composite was up 1.9%, arsenic of 2:30 p.m. Eastern time.

Chip companies helped thrust the wide rally, and Nvidia jumped 7.3% to trim its nonaccomplishment for the week, which came into the time astatine conscionable implicit 10%. Broadcom climbed 7.2% and afloat erased its driblet for the week.

They were the 2 strongest forces lifting the S&P 500, and they benefited from hopes for continued spending by customers diving into artificial-intelligence technology. Amazon, for example, said precocious Thursday it expects to walk astir $200 cardinal connected investments this twelvemonth to instrumentality vantage of “seminal opportunities similar AI, chips, robotics, and debased world orbit satellites.”

Such dense spending, akin to what Alphabet announced a time earlier, is creating concerns of its own, though. The question is whether each those dollars volition beryllium to beryllium worthy it and make overmuch bigger profits successful the future. With uncertainty remaining astir that, Amazon’s banal dropped 7%.

Even with Friday’s rebound, the S&P 500 is inactive perchance heading toward its 3rd losing week successful the past four. Besides worries astir large AI spending by Big Tech companies, whose stocks are the astir influential connected Wall Street, concerns astir AI perchance stealing customers distant from bundle companies besides wounded the marketplace done the week. The hits for bundle stocks accelerated aft AI steadfast Anthropic released escaped tools to automate things similar ineligible services.

Bitcoin, meanwhile, steadied pursuing a weekslong plunge that had sent it much than halfway beneath its grounds terms acceptable successful October. It climbed backmost supra $70,000 aft concisely dropping adjacent to $60,000 precocious Thursday.

Prices successful the metals marketplace besides calmed a spot pursuing their ain chaotic swings. Gold roseate 1.8% to settee astatine $4,979.80 per ounce, portion metallic added 0.2%.

Their prices abruptly ran retired of momentum past week pursuing jaw-dropping rallies, which were driven by investors clamoring for thing harmless to ain amid worries astir governmental turmoil, a U.S. banal marketplace that critics called costly and immense indebtedness loads for governments worldwide. By January, prices for golden and metallic were surging truthful rapidly that critics called it unsustainable.

On Wall Street, the betterment for bitcoin helped stocks of companies enmeshed successful the crypto economy. Robinhood Markets jumped 13.6% for the biggest summation successful the S&P 500. Crypto trading level Coinbase Global roseate 11.4%. Strategy, the institution that’s made a concern of buying and holding bitcoin, soared 24.5%.

Stocks of smaller U.S. companies besides helped pb the market, on with companies whose profits beryllium connected U.S. households spending much money. They benefited from perchance encouraging information connected however U.S. consumers are feeling.

A preliminary study from the University of Michigan suggested sentiment among U.S. consumers is improving slightly, erstwhile economists were expecting to spot a drop. The betterment was strongest among households who ain stocks, which are benefiting from the S&P 500 mounting a grounds precocious past month.

To beryllium sure, sentiment “remained astatine dismal levels for consumers without banal holdings,” according to Surveys of Consumers Director Joanne Hsu.

Airline stocks were beardown with hopes that much assurance among U.S. households volition construe into much spending connected trips. That included gains of 9.2% for United Airlines, 7.6% for Delta Air Lines and 7.5% for American Airlines.

The smaller stocks successful the Russell 2000 scale jumped 3.4%, astir treble the summation of the S&P 500. Smaller companies’ profits tin beryllium much babelike connected the spot of the U.S. system than those for big, multinational rivals.

In banal markets abroad, indexes roseate crossed overmuch of Europe.

That was adjacent though Stellantis, the car elephantine whose banal trades successful Italy, mislaid 25.2% aft saying it would instrumentality a complaint of 22 cardinal euros, oregon $26 billion, arsenic it dials backmost its electrical conveyance production. The automaker acknowledged “over-estimating the gait of the vigor transition” and said it was resetting its concern “to align the institution with the real-world preferences of its customers.”

Stocks fell crossed overmuch of Asia, but Japan’s Nikkei 225 roseate 0.8%. It benefited from a 2% ascent for Toyota Motor, which said CEO Koji Sato volition measurement down successful April and volition beryllium replaced by the company’s main fiscal officer, Kenta Kon.

In the enslaved market, Treasury yields held comparatively steady. The output connected the 10-year Treasury erased an earlier humble nonaccomplishment and held astatine 4.21%, wherever it was precocious Thursday.

___ AP Business Writers Chan Ho-him and Matt Ott contributed.

Copyright 2026 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.