Stocks
Microsoft Leads AI Stock Rally Amid Oil Price Concerns
Wall Street closed higher on Friday as investors bought shares in companies at the forefront of artificial intelligence technology. The S&P 500 and Nasdaq indexes both rose, ending a volatile week marked by uncertainty over which industries will gain from AI and concerns about rising US Treasury yields.
The gains were led by Microsoft, which jumped 3.7% after unveiling new features in its Copilot app, including a coding tool and an always-on AI agent. The company's share price has now risen 7% this year.
Other technology stocks also performed well, with chipmaker Qualcomm gaining 4% and Dell advancing 5%. However, the rally was tempered by high oil prices and concerns over the impact of rising US Treasury yields on the market.