US stocks rose on Friday, positioning major indexes for a positive end to a volatile week marked by sharp losses in technology shares and renewed concerns over cryptocurrency markets.
The S&P 500 gained about 0.9%, while the Nasdaq Composite advanced 0.8%.
The Dow Jones Industrial Average climbed 573 points, or roughly 1.1%.
The gains pushed the S&P 500 back into positive territory for 2026.
However, the index and the Nasdaq were still on track for weekly declines of about 1% and 3%, respectively.
The Dow, by contrast, was up more than 1% for the week.
Amazon slump contrasts with broader rebound
Friday’s advance came despite sharp losses in Amazon, whose shares fell about 9% after the company reported earnings per share slightly below analyst expectations.
The e-commerce giant also told investors it plans to spend about $200 billion on capital expenditures this year, intensifying concerns about elevated investment levels across the technology sector.
In contrast, Reddit rose about 2% after reporting an earnings beat, issuing strong guidance and announcing a stock buyback program.
Other major technology stocks rebounded after steep declines earlier in the week.
Nvidia gained about 3%, while Microsoft rose nearly 1%. Both companies had posted close to double-digit percentage losses earlier in the week.
Friday’s rebound followed another difficult session on Thursday, when technology shares again dragged on the market.
Software stocks extended their losses, with the iShares Expanded Tech-Software Sector ETF losing another 5%.
The fund reversed course on Friday, rising about 2%. Even so, its roughly 9% decline for the week put it on pace for its steepest weekly drop since last April, amid mounting worries about how artificial intelligence could reshape pricing power and competition in the sector.
AI spending fears weigh on Big Tech
Concerns over heavy investment in artificial intelligence infrastructure remained central to market sentiment.
Amazon’s capital expenditure forecast added to fears that the AI boom may be creating excessive spending commitments with uncertain returns.
Over the past week, Big Tech companies have seen more than $1 trillion wiped from their combined market capitalisation.
Microsoft, Nvidia, Oracle, Meta Platforms, Amazon, and Alphabet all declined in the week leading up to Thursday’s close.
According to FactSet data, about $1.35 trillion has been erased from their valuations.
The Financial Times reported that Big Tech companies plan to funnel about $660 billion into artificial intelligence this year, a figure exceeding the gross domestic product of several major economies.
Market participants have said that while management teams remain confident about long-term returns, the lack of near-term visibility has unsettled investors.
The shift in sentiment reflects growing scrutiny of whether massive AI investments will generate sufficient profitability.
Amid the turbulence, Apple emerged as a relative outperformer.
The company, which has committed far less to AI-related capital spending than some peers, has faced criticism over its AI strategy in the past.
However, Apple’s shares have risen about 7% since Monday, supported by strong demand for the iPhone.
Chief Executive Officer Tim Cook described demand as “staggering,” helping to bolster confidence in the company’s core business.
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