Wall Street Today: DJIA, S&P 500 and Nasdaq Composite Rise on CRWV, ORCL, AMD and NVDA Gains
The Nasdaq Composite, S&P 500 and Dow-30 all rose for a second straight session Friday as strength for CoreWeave, Oracle, Nvidia and other key Big Techs outweighed a 10.5% drop for apparel giant Nike.
The $Nasdaq Composite Index (.IXIC.US)$ gained 301.26 points (1.3%) to a 23,307.62 close, while the $S&P 500 Index (.SPX.US)$ rose 59.74 ticks (0.9%) to 6,834.50 and the $Dow Jones Industrial Average (.DJI.US)$ added 183.04 points (0.4%) to 48,134.89.
Macro
The three indexes rose in part on big gains for some key large techs, many of which rose on word Thursday of their inclusion in U.S. President Donald Trump's "Genesis Mission" to boost the American artificial-intelligence industry.
Stocks to gain ground Friday on the news included $CoreWeave (CRWV.US)$ (up 22.6%), $Oracle (ORCL.US)$ (ahead 6.6%), $Advanced Micro Devices (AMD.US)$ (6.2% better), $Palantir (PLTR.US)$ (4.1% firmer), $NVIDIA (NVDA.US)$ (3.9% stronger) and $Intel (INTC.US)$(which added 1.5%).
Oracle also rose on word that it will join a consortium that will buy popular social-media platform TikTok's U.S. operations.
All of that helped spark a broader rally for AI stocks and Big Techs in general.
Other tech stocks to see significant increases Friday included $Ondas (ONDS.US)$ (up 18.2%), $BigBear.ai Holdings (BBAI.US)$ (11.2% higher in part on a strategic partnership with radar-and-defense firm C Speed, $SanDisk (SNDK.US)$ (8.3% better), $Micron Technology (MU.US)$ (7% stronger) and $Super Micro Computer (SMCI.US)$ (5.9% firmer).
Additionally, a White House announcement late Thursday of an initiative to boost the U.S. space industry drove space-related stocks higher. Firms that rose Friday on the news included $Intuitive Machines (LUNR.US)$ (ahead 37.7%), $Rocket Lab (RKLB.US)$ (17.7% better) and $AST SpaceMobile (ASTS.US)$ (15% stronger).
All of those gains offset big losses for Dow component $Nike (NKE.US)$, which fell 10.9% heading into the close on poorly received quarterly results.
Adding to the market's positive mood, a Bank of Japan decision to boost the Asian nation's benchmark interest rate to a 30-year high didn't hit the U.S. dollar or American stocks as expected.
Friday's gains came on a so-called "quadruple-witching day," when stock options, stock-index options, stock-index futures and single-stock futures all expire simultaneously, potentially boosting market volatility.
Meanwhile, cryptocurrencies rose in part on speculation of possible future U.S. rate cuts and eventual Japanese yen gains against the dollar on BoJ rate hikes. A weaker dollar would likely boost non-dollar assets like cryptocurrencies.
$Bitcoin (BTC.CC)$ gained 3.5% to $87,916.38 as of shortly after 4 p.m. ET, $Ethereum (ETH.CC)$ rose 7.1% to $2,989.01, $Solana (SOL.CC)$added 8% at $127.19 and $Ripple (XRP.CC)$improved by 5.4% to $1.91.
Similarly, silver hit a record high and gold rose as well on speculation about eventual dollar softness.
$Silver Futures (MAR6) (SImain.US)$ gained as much as 3.8% to a $67.68 all-time intraday high, while $Gold Futures (APR6) (GCmain.US)$ added as much as 0.6% to $4,389.
Moo-vers
Most of the "Magnificent Seven" stocks joined in on Friday's tech rally and closed higher.
$NVIDIA (NVDA.US)$ led the way higher with its aforementioned 3.9% gain, followed by $Alphabet-A (GOOGL.US)$ (up 1.6%), $Apple (AAPL.US)$(0.5% weaker), $Microsoft (MSFT.US)$ (0.4% firmer) and $Amazon (AMZN.US)$ (0.3% stronger).
Only $Meta Platforms (META.US)$ (0.9% lower) and $Tesla (TSLA.US)$(off 0.5%) fell among the Mag-7 names.
Elsewhere in the market, Friday's noteworthy percentage decliners included:
-- Cannabis stocks, which continued to fall on a "buy on rumor, sell on news" moment following Trump's announcement Thursday of plans to loosen marijuana restrictions under U.S. federal law. Pot stocks rose for several days on reports ahead the looming move, then fell on the official announcement itself. Friday's decliners included $Canopy Growth (CGC.US)$ (off 12.4%) and $Tilray Brands (TLRY.US)$ (9.6% lower).
-- $Lululemon Athletica (LULU.US)$, down 2.6%. LULU gave back part of Thursday's 3.5% gain that followed word that activist investor Elliott Management had taken a $1 billion+ stake in the athleisurewear firm.
Conversely, Friday's major percentage gainers included:
-- Select crypto-related stocks, which rallied on Friday's gains for Bitcoin and other cryptocurrencies. Winners included $Applied Digital (APLD.US)$ (up 16.5%), $IREN Ltd (IREN.US)$ (which added 11.5%), $Bitmine Immersion Technologies (BMNR.US)$ (10.3% stronger), $Circle (CRCL.US)$ (6.4% better), $Strategy (MSTR.US)$ (4.2% firmer) and $Robinhood (HOOD.US)$ (ahead 3.6%).
-- $Rivian Automotive (RIVN.US)$, up 10.7% to $22.45. The electric-vehicle maker rose on a price-target raise from Wedbush to $25 from an earlier $16, plus a recent upgrade by Baird to "Outperform" from a previous "Neutral."
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
5865
Followers
3000
Following
12K
Visitors
Follow
Watermelon Bull : santa rally, santa rally, santa rally!
InfiniteSauceBoy : santa rally sell off
Silverbat : PLTR has an unrealistic high PE, worse than AMD
151485948 : PLTR also had a PE over 700 before last earnings. It's now cheaper than it was before Nov 2025 if all you look at is PE.
Slay2dudes : ok
Heart Of Steel Silverbat : yes Palantir has a high pe but their future growth is solid. i would choose to sell amd
Lewis TEG : none of the above