Wall Street Secures First Winning Week in Three

Wall Street finished higher on Friday, recording its first winning week in three. The Dow Jones Industrial Average gained 478.64 points, or 0.9%, to 51,828.62, while the S&P 500 rose 39.28 points, or 0.5%, to 7,743.41. The Nasdaq Composite advanced 129.34 points, or 0.5%, to 27,068.72.

The market's performance was led by AI-related companies, with Microsoft shares climbing 3.7% after unveiling additional capabilities for its Copilot application. Qualcomm gained 4%, and Dell Technologies advanced 5%. The technology sector continued a theme visible since the start of the week: investors remained willing to buy companies positioned to benefit from artificial intelligence spending.

Oil prices also contributed to the market's relief, with Brent crude falling below $98 per barrel during Friday's trading. This decline helped ease some of the pressure that had built in the bond market, as Treasury yields retreated after briefly moving near their highest level since 2007.