The Dow Jones Industrial Average advanced 1,206.95 points, or 2.47%, closing at 50,115.67. Friday marked the first time the Dow exceeded the 50,000 level. The S & P 500 jumped 1.97% and ended at 6,932.30, while the Nasdaq Composite advanced 2.18% to 23,031.21. With those moves, the S&P 500 climbed back into the green for 2026.
Nvidia and Broadcom were two of the key winners Friday, with the former increasing by 8% and the latter growing 7% following big declines earlier in the week. Other stocks such as Oracle and Palantir Technologies also bounced back as investors reconsidered some of the names at cheaper levels. Oracle and Palantir each rose 4%. Some key software stocks like ServiceNow- which has been the epicenter of the tech sell off.
“We’re in a gold rush right now with AI,” said Falcon Wealth Planning founder Gabriel Shahin.
“You have the investment that Google is making, Nvidia is making, that Meta is making, that Amazon is making. There is money that will be deployed,” he also said. “It’s just the carousel [of money movement] sometimes scares people.” Shahin said.
Bitcoin recouped some losses, adding 10% to reach back above $70,000 below $61,000 overnight to its lowest level since October 2024.
Shahin believes the market is in the midst of a “great recalibration,” where investors are going to move further out of growth stocks and into value. Over the coming months, his bet is on large-cap value names, with investors buying up shares in areas such as industrials and financials. In those sectors, Caterpillar and Goldman Sachs were standouts.