Wall Street Soars as Tech Stocks Lead Broad Rally

A Wall Street rally on Friday marked the first weekly win streak since summer. The S&P 500 rose 2.5% and posted its first back-to-back weekly gains since August.

The Dow Jones Industrial Average rose 2.6%, while the tech-heavy Nasdaq composite climbed 2.9%. Smaller company stocks also gained ground, lifting the Russell 2000 index by 2.3%.

Technology stocks led a broad rally on Wall Street Friday, capping another strong week for the market as investors welcomed solid profits from Apple and other companies.

Apple's latest quarterly results showed the iPhone maker made even fatter profits during the summer than expected. Its shares rose 7.6%, leading a rally in technology stocks that had largely been beat up a day earlier.