Index closes
The S&P 500 closed at 7,377, up 0.31%. The Nasdaq 100 rose 1.35% to 26,990, and the Russell 2000 added 0.89% to 2,754. The Dow Jones was the laggard, closing at 51,286, down 0.46%.
Macro & after the close
Investors awaited October's nonfarm payrolls report, due before the opening bell. Markets priced in a 69.4% likelihood of a Federal Reserve rate hike after its December meeting.
Thursday's session had closed sharply lower, with the Dow down over 1,800 points. Stocks rebounded Friday after that rout, with the jobs report showing the labor market holding up.
Themes
Semiconductors ▲ median +5.73%: AMD +11.04%, INTC +7.71%, ALAB +6.26%, MRVL +5.73%, QCOM +5.52%, MPWR +5.22%, and 1 more
Semiconductor equipment ▲ median +6.32%: LRCX +8.23%, KLAC +6.69%, Q +6.32%, ASML +5.02%, AMAT +4.22%
AI infrastructure & data centers ▲ median +6.20%: NBIS +7.58%, CRWV +6.28%, SMCI +6.20%, DELL +3.67%, VRT +3.47%
Semiconductors rallied, led by AMD (AMD) up 11.04% after third-quarter revenue rose 45% year over year to $13.38 billion and beat consensus. Intel (INTC) gained 7.71%, Astera Labs (ALAB) 6.26%, Marvell (MRVL) 5.73%, Qualcomm (QCOM) 5.52% and Monolithic Power (MPWR) 5.22%.
Semiconductor equipment names also rose: Lam Research (LRCX) added 8.23%, KLA (KLAC) 6.69%, Qnity Electronics (Q) 6.32%, ASML (ASML) 5.02% and Applied Materials (AMAT) 4.22%.
AI infrastructure and data-center stocks moved higher, with Nebius (NBIS) up 7.58%, CoreWeave (CRWV) 6.28%, Super Micro (SMCI) 6.2%, Dell (DELL) 3.67% and Vertiv (VRT) 3.47%.
