U.S. Stocks Bounce Back on Tech Gains, Singapore Economy Surges

U.S. stocks bounced back on Friday after four consecutive days of losses, gaining around 1% as tech companies and lower oil prices helped offset inflation concerns.

The S&P 500 Index rose 65.28 points (0.86%) to 7,656.98, while the Dow Jones Industrial Average added 509.19 points (0.98%) to 52,573.29.

Singapore's economy expanded 5.9% year-over-year in Q2, with non-oil domestic exports surging 27.4% from 9.6% in Q1.

Deputy Prime Minister Gan Kim Yong warned that a slowdown in global AI investment could impact Singapore's economic growth and trigger corrections in financial markets.