US stocks closed higher on Friday, with the S&P 500 up 0.4%, the Nasdaq advancing 0.6%, and the Dow Jones adding 107 points. The move was led by a rebound in technology shares after the previous session’s sell-off.
Market sentiment was helped by reports that OpenAI expects to reach or exceed $70 billion in annualized revenue by year-end, easing worries that its sales were lagging projections. A pullback in oil prices also reduced some pressure on the bond market.
Consumer discretionary and real estate stocks were among the day’s strongest performers. Tesla climbed 2.7% after Elon Musk clarified who will own and operate Terafab. By contrast, Apple shares fell 2.5% following reports that the company has asked some suppliers to cut production of components for its iPhone 18 Pro and Pro Max models. Delta Air Lines slipped 3% after missing earnings expectations and lowering its outlook.
For the week, both the Dow and the Nasdaq were little changed, while the S&P 500 is up 0.6% so far.
