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Nasdaq up on tech rebound
The Nasdaq Composite rose 1.09% to 24,579.43 as technology stocks, including Nvidia and AMD, recovered. However, it recorded losses for a fourth straight week after the sell-off pushed it into correction territory—10% below its peak a month earlier. The gains reflected continued optimism about investment in AI infrastructure, while the S&P 500 rose 0.32% and the Dow Jones fell 0.46%. Stronger-than-expected U.S. jobs data and a drop in unemployment to 4.1% lifted the odds of an interest-rate hike in December to 78%, up from 70% previously.
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