U.S. equities ended higher on Friday, led by Oracle, as the artificial intelligence trade regained momentum after a volatile stretch. The Nasdaq Composite jumped 1.31% to close at 23,307.62, while the S&P 500 rose 0.88% to 6,834.50. The Dow Jones Industrial Average added 183 points, or 0.38%, settling at 48,134.89. All three major indexes posted their second consecutive day of gains.
Oracle shares climbed 6.6% after TikTok agreed to sell its U.S. operations to a newly formed joint venture involving the software giant and private equity firm Silver Lake. The move marked a sharp rebound for Oracle, which had been under pressure earlier in the week following reports that a key backer pulled out of one of its data center projects amid concerns over debt levels and AI-related spending. Those concerns had weighed on other AI-linked names, including Broadcom and Advanced Micro Devices.
Elsewhere in the sector, Nvidia advanced nearly 4% after Reuters reported that the Trump administration is reviewing the possibility of allowing the company to sell its advanced AI chips to China. Earlier this month, President Donald Trump said Nvidia would be permitted to ship its H200 AI chips to “approved customers” in the country. Micron Technology also extended its rally, rising about 7%, after surging 10% in the prior session on the back of strong revenue guidance for the current quarter, easing investor concerns around the AI trade.
Friday’s gains followed a rebound in the previous session, when both the S&P 500 and the Dow snapped four-day losing streaks. For the week, the S&P 500 edged up 0.1% and the Nasdaq gained 0.5%, while the Dow slipped 0.7%.
On the downside, Nike shares fell 10.5% after the sportswear maker reported a decline in revenue from its Greater China segment during the fiscal second quarter. The company also flagged pressure on gross margins from higher tariffs.
