The Nasdaq ended 1.1% higher after gaining as much as 2% during the session, but still fell 3.4% for the week. (Reuters pic)NEW YORK: Technology stocks bounced back on Friday from their worst drubbing in more than a year, but the Nasdaq Composite Index posted a fourth consecutive weekly decline as investors sifted for clues about what comes next in the AI trade.
Gains within technology were broadly shared, with the semiconductor index rallying 4.2%. Nvidia rose 2.8%, Advanced Micro Devices added 11% and Sandisk rebounded almost 4%. Shares within the sector opened strongly and held much of their gains, with the Nasdaq ending up 1.1% after trading as much as 2% higher.
The broad revival underscores investor faith in the AI buildout that has driven US stock indexes to dozens of record closes this year, despite a shakeout that began with a US long-term Treasury yield spike in August and the stock volatility of the past month.
