Dow Bounces 675 Points, Nasdaq 451 on Dip-Buying Rally
U.S. stocks rebounded Friday as investors hunted for bargains at the end of a tumultuous week in which U.S. President Donald Trump's escalating trade war fueled recession fears and doused risk appetite.
A broad rally boosted all three major U.S. stock indexes to solid gains, with recently battered tech-related megacaps enjoying a comeback. Every one of the so-called Magnificent 7 artificial intelligence-related momentum stocks advanced, although six of them remain down on the year.
"I don't see a catalyst that would spark this huge upside we're seeing in markets," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky.