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Dow leads S&P 500, Nasdaq over Wall Street rebounds from AI tech rout

U.S. stocks jumped on Friday as Wall Street reassessed concerns about the impact of AI disruption and the risk of heavy Big Tech spending, set to rebound from a week-long tech bruising.

The Dow Jones Industrial Average (^DJI) led the way higher by more than 1.5%, or more than 700 points. The S&P 500 (^GSPC) rose 1%, while the Nasdaq Composite (^IXIC) added about 0.9%, as the indices began to retrace sharp closing losses.

Wall Street looks to end the week with a bounce back as big tech CEOs and analysts shrug off concerns about the impact of new AI tools on legacy tech. But the S&P 500 and Nasdaq are still set for weekly losses, slipping into negative territory for 2026.

Bitcoin (BTC-USD) surged beyond a temporary risk-on tone stock after hitting a 16-month low overnight at $68,000. But the biggest cryptocurrency is still on track for its worst weekly performance since 2022 after wiping out all gains since Trump’s election this week.

Strategy ( MSTR ), one of the companies most affected by the crypto decline, revealed a loss for the quarter. The results initially weighed on its stock, but shares were up 13% on Friday after bitcoin rebounded and Strategy’s CEO downplayed concerns about debt-servicing risks.

Some technical disappointment persisted as shares of Amazon ( AMZN ) fell 9%. In its earnings call, the major cloud provider outlined plans for a big 2026 jump in spending of at least $200 billion, although forecasts for its operating income fell short.

Elsewhere, Stellantis ( STLA ) warned it would take more than 22 billion euros ($26 billion) in fees as it plans to scale back its EV push. This week’s $60 billion wipeout for Chinese carmaker BYD ( BYDDF, 1211.HK ) added to the picture of EV malaise painted on Wall Street and the Jeep maker’s shares tanked more than 20% on Milan ( STLAM.MI ).

Among commodities, silver (SI=F) whipped up but broadly resumed its decline as Chinese selling continued ahead of national holidays.

Looking ahead, the release of the closely watched January jobs report, originally scheduled for Friday, has been pushed to Wednesday next week. There have been fresh signs of trouble in the labor market in recent days, as job openings plunged to their lowest level since 2020 and layoff announcements increased.

Live 11 updates

  • Consumer sentiment reached its highest level since August, but is 11% lower than a year ago

    Brooke DiPalma of Yahoo Finance reports:

    Read more here.

  • Nvidia shares rise nearly 5% as big tech’s 2026 market cap tops $600 billion

    Nvidia ( NVDA ) stock rose 4.6% in morning trading Friday as the chipmaker was set to benefit from more than $600 billion in capital spending planned by the four biggest tech hyperscalers: Microsoft ( MSFT ), Amazon ( AMZN ), Alphabet ( GOOGL ), and Meta ( META ).

    Amazon said Thursday it will spend about $200 billion in 2026.

    On Wednesday, Alphabet said its capitalization would fall to between $175 billion and $185 billion.

    Last week, Meta predicted it would spend $115 billion to $135 billion. Microsoft hasn’t shared its full-year spending outlook, but if it continues to spend at the same rate as the first half of its fiscal year 2026 — which began in July of 2025 — the Azure cloud provider will see about $145 billion in capex.

    At the low end of that range, the four will spend about $635 billion this year, marking a nearly 67% spike from the companies’ $381 billion in spending in 2025. At the high end of their guidance, the group will spend about $665 billion, or a 74% jump over the previous year.

    “It’s all going to Nvidia,” DA Davidson analyst Gil Luria said in an interview Friday morning of the capex figures with Yahoo Finance.

    He said that with Nvidia shares down about 4% over the past three months — as are AI chip designers Broadcom ( AVGO ) and AMD ( AMD ), which have fallen 9% and 14%, respectively, over that time frame — investors will likely start “giving credit to companies that are capturing all the profits from big AI investments.”

  • After the market opens, the share price rises

    U.S. stocks rose early on Friday in a sign of cautious optimism for a rebound after a week-long tech rout.

    The S&P 500 (^GSPC) rose 0.5%, while the Nasdaq Composite (^IXIC) added about 0.2%, recovering from early premarket declines. The Dow Jones Industrial Average (^DJI) also climbed 0.8% after sharp losses for stocks on Thursday.

  • Hims & Hers stock tanks, Novo Nordisk rises as FDA targets copycat drugs

    The FDA announced a crackdown on the weight-loss drug market amid stiff competition from GLP-1 copycat drugs, after stocks of Hims & Horse Health ( HIMS ) and Novo Nordisk ( NVO ) saw their fortunes reverse Friday morning.

    On Friday, US Food and Drug Administration (FDA) Commissioner Marty Makary told X that the agency would “take swift action against companies that mass market illegal counterfeit drugs.”

    The move comes after Himes & Hors announced it will launch a compounded weight-loss pill that will compete with Novo Nordisk’s Wegovi drug at $49 to $99. Compounded medications are customized medications that are not FDA-approved and are sometimes considered “dupes” of branded medications.

    Novo Nordisk’s stock plunged after the news, and the company immediately threatened legal action, saying in a statement, “Novo Nordisk will take legal and regulatory action to protect patients, our intellectual property and the integrity of the US gold-standard drug approval framework.”

    After seeing the FDA weigh in on the matter, shares of Hims & Hers Health ( HIMS ) fell nearly 7%, while shares of Novo Nordisk ( NVO ) jumped 7%.

  • Premarket Trending Tickers: Molina, Doximity and Coty

    Molina Healthcare (MOH) The stock fell 28% before the bell on Friday after forecasting 2026 profits below analysts’ expectations. The U.S. health insurer said medical costs in its government-backed plans have risen.

    doximity (DOCS) The stock sank 30% in premarket hours today after lowering its full-year sales outlook.

    category (COTY) The stock fell 13% before the bell on Friday. The beauty brand withdrew its full-year guidance on Friday.

  • Crypto pessimism is setting in, but Michael Saylor is still holding on

    Strategy ( MSTR ) stock jumped 6% on Friday morning, defying the continued decline in bitcoin and the stock’s 17% drop on Thursday.

    As of Thursday afternoon, the company reported that it held 713,502 bitcoins with an average purchase price of $76,052, which is about 20% higher than what bitcoin is currently trading for. Strategy reported an operating loss of $17.4 billion, up from $1 billion in the same period in 2024.

    With bitcoin priced at $66,227 on Friday, the company is still underwater on its investment amid a crypto selloff. But Strategy’s Michael Seiler is urging the crypto faithful to stay strong, echoing their mantra and battle cry: “HODL.”

    Hamza Shaaban of Yahoo Finance writes in this morning’s brief how the strategy’s problems have been brewing for years:

    Read more here.

  • Stellantis stock craters after taking $26 billion charge on EV push

    Jeep maker Stellantis ( STLA , STLAM.MI ) warned on Friday that it would book a €22.2 billion ($26 billion) charge as it scaled back its EV push.

    Shares fell more than 20% on Wall Street and in Milan’s premarket, where trading was briefly halted. They plunged as much as 24% in Italy, the biggest drop on record for the Peugeot and Fiat automaker, wiping more than €5 billion from its market cap.

    Bloomberg reports:

  • Reddit jumps after posting upbeat guidance and positive Q4 results

    Reddit ( RDDT ) stock jumped 7% before the bell on Friday after posting fourth-quarter results and issuing positive guidance, saying AI tools helped bring more marketers to the platform.

    Investing.com reports:

    Read more here.

  • Roblox anticipates strong annual bookings as the gaming platform gains momentum

    Reuters reports:

    Read more here.

  • Silver prices rose after a sharp decline in low liquidity

    Bloomberg reports:

    Read more here.

  • Retail investors expecting a government pro-crypto boon have suffered a fall in bitcoin

    Bloomberg reports:

    Read more here.

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