Stocks Bounce Back from Volatile Week as Tech Leads the Way
Stocks are poised for a slightly higher open on Friday as major indexes attempt to shake off a volatile week of trading. The Nasdaq is on track to post weekly gains, while the S&P 500 and Dow enter the session down for the week.
The surge in tech stocks on Thursday helped markets bounce back from three days of losses. However, WTI crude oil futures are down 0.4% at $101.50 per barrel, losing ground for the second consecutive day. The yield on the 10-year Treasury ticked higher to 4.97%, and gold futures were up 0.4% to roughly $4,415 an ounce.
Crypto stocks are also rising alongside Bitcoin's price, which is currently at $78,000 after dipping as low as $76,200 overnight. This follows the Securities and Exchange Commission's issuance of new rules for the crypto industry yesterday, providing some relief to the sector.
Warren Buffett is stepping down as chairman of Berkshire Hathaway's board, with his son Howard taking over the role. Meanwhile, Apple is launching its first new products under new CEO John Ternus today, including the iPhone 18 Pro and Pro Max, and the AirPods 5.