U.S. Stocks rallied Friday morning after a losing session pushed major indexes into correction territory. The Dow Jones Industrial Average climbed 376 points, or 0.9%, while the S&P 500 advanced 1.4% and the Nasdaq Composite added 1.9%.
Tech names led the rebound. Nvidia (NVDA, Financial) shares surged over 4%, and Tesla (TSLA, Financial) and Meta Platforms (META, Financial) gained more than 1% along with Netflix (NFLX, Financial), Amazon (AMZN, Financial), and Apple (AAPL, Financial. Improved market sentiment came amid optimism that a government shutdown could be avoided, following remarks from Senate Minority Leader Chuck Schumer, who said he would not block a Republican funding bill.
A 1.4% drop on Thursday dragged the S&P 500 down 10.1% from its record close last month, pushing the Nasdaq further into correction and the small-cap Russell 2000 near bear market territory. Analysts blame tariff uncertainty and economic growth concerns for the volatility.
Adam Turnquist, chief technical strategist for LPL Financial, noted that tariff worries continue to fuel the selling pressure across markets. Investors remain very cautious amid persistent market uncertainties overall.
This article first appeared on GuruFocus.
