US stocks rebound after AI sell-off, inflation data

AI-generated briefing · First published

Wall Street rose after Thursday's tech rout, with the Dow up 1.1% and S&P 500 up 0.3%. Asian markets also gained on Friday.

US stocks rebounded on Thursday after early losses triggered by a sharp sell-off in Asian tech shares and hotter-than-expected US wholesale inflation data. The Dow rose 1.1% to 52,177, the S&P 500 gained 0.3% to 7,744 and the Nasdaq edged up 0.1% to 26,713. [1]

Asian markets recovered on Friday, with the Hang Seng Index up 1.08% at 24,323, the Shanghai Composite up 0.71% at 3,733 and the Shenzhen Component up 0.57% at 11,883. Seoul and Tokyo also posted gains, led by chipmakers. [2]

Investors pared bets on a near-term Federal Reserve rate hike after comments from Chairman Kevin Warsh at the IMF meetings. [3]

Sources

  1. US stocks end higher as AI shares stabilise

    RTHK Finance · · Excerpt

  2. Tech bounces, Asian stocks rise

    RTHK Finance · · Summary only

  3. U.S. Stocks Mixed as Investors Pare Rate-Hike Bets

    WSJ Markets · · Summary only

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