US close: Wall Street ends higher as tech leads rebound after volatile week
Major indices closed higher on Friday, with tech leading a rebound as investors tried to shake off a volatile week marked by rising Treasury yields, firmer oil prices and a pullback in the AI trade.
At the close, the Dow Jones Industrial Average was up 0.83% at 51,654.95, while the S&P 500 advaned 0.59% to 7,811.54 and the Nasdaq Composite saw out the session 0.64% stronger at 27,366.17.
The Dow closed 423.31 points higher on Friday, extending modest gains recorded in the previous session on the back of strong performance from defensive stocks.
Stocks moved higher on Friday, with equities hitting their session highs after Donald Trump said Russian president Vladimir Putin had agreed to supply diesel to both US and global markets. Oil prices, which had settled marginally higher eased slightly following the announcement.
On the macro front, US consumer sentiment slipped slightly in October, according to an advanced estimate from the University of Michigan, easing by 1.8 points to 46.3, as modest improvements in year‑ahead expectations were outweighed by weaker views on buying conditions for big‑ticket items. October's preliminary reading showed that Democrats and Republicans recorded small gains in sentiment, but this was offset by a decline among independents, while confidence fell sharply for lower‑income households and those with smaller stock holdings - groups more exposed to rising living costs.
In the corporate space, Delta Air Lines cut its 2026 profit outlook after missing earnings estimates for the first time in two years, citing persistently high fuel costs, though chief executive Ed Bastian said demand remained resilient. The carrier now expects full‑year adjusted earnings of $5.10 to $5.60 per share, well below July's $6.50 to $7.50 forecast, with fourth‑quarter guidance also coming in under analyst expectations. Delta additionally reduced its free‑cash‑flow outlook to $2.5bn, down from as much as $4bn previously.
Elsewhere, SpaceX closed higher after striking a deal to acquire a nationwide spectrum portfolio. The move raised competitive concerns in the telecoms sector, leaving AT&T, Verizon and T‑Mobile weaker as traders assessed the potential impact.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Visa Inc. (V) $385.45 2.76%
Merck & Co. Inc. (MRK) $145.60 2.26%
Unitedhealth Group Inc. (UNH) $379.30 2.25%
Johnson & Johnson (JNJ) $261.44 1.93%
Cisco Systems Inc. (CSCO) $118.39 1.68%
Amgen Inc. (AMGN) $414.87 1.52%
Goldman Sachs Group Inc. (GS) $895.32 1.44%
Boeing Co. (BA) $190.37 1.40%
Walt Disney Co. (DIS) $108.05 0.96%
Salesforce.Com Inc. (CRM) $229.13 0.58%
Dow Jones - Fallers
Verizon Communications Inc. (VZ) $41.65 -10.14%
Intel Corp. (INTC) $104.70 -5.24%
3M Co. (MMM) $159.96 -2.21%
Home Depot Inc. (HD) $290.74 -1.60%
McDonald's Corp. (MCD) $235.23 -0.70%
Dow Chemical Co. (DOW) $28.42 -0.59%
Travelers Company Inc. (TRV) $368.75 -0.41%
Nike Inc. (NKE) $34.71 -0.09%
S&P 500 - Risers
Crown Castle International (CCI) $79.64 15.60%
Humana Inc. (HUM) $431.87 11.56%
American Tower Corp (Reit) (AMT) $182.24 9.30%
Sba Communications Corp. (SBAC) $182.49 6.63%
Illumina Inc. (ILMN) $278.17 5.92%
CH Robinson Worldwide Inc (CHRW) $142.31 5.69%
Expedia Group Inc. (EXPE) $274.22 4.95%
DENTSPLY Sirona Inc. (XRAY) $8.83 4.62%
Nektar Therapeutics (NKTR) $41.17 4.59%
VeriSign Inc. (VRSN) $303.74 4.42%
S&P 500 - Fallers
AT&T Inc. (T) $22.18 -10.82%
Verizon Communications Inc. (VZ) $41.65 -10.14%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
HP Inc (HPQ) $30.20 -6.91%
FMC Corp. (FMC) $8.35 -6.39%
Intel Corp. (INTC) $104.70 -5.24%
Micron Technology Inc. (MU) $1,029.00 -5.20%
Mosaic Company (MOS) $18.74 -5.02%
Deere & Co. (DE) $620.93 -4.85%
Advanced Micro Devices Inc. (AMD) $608.10 -4.37%
Nasdaq 100 - Risers
Illumina Inc. (ILMN) $278.17 5.92%
Expedia Group Inc. (EXPE) $274.22 4.95%
DENTSPLY Sirona Inc. (XRAY) $8.83 4.62%
Take-Two Interactive Software Inc. (TTWO) $213.44 4.38%
Check Point Software Technologies Ltd. (CHKP) $137.18 4.32%
NetEase Inc. Ads (NTES) $124.24 4.12%
Verisk Analytics Inc. (VRSK) $177.63 4.09%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $570.37 4.05%
eBay Inc. (EBAY) $112.19 3.67%
Gilead Sciences Inc. (GILD) $151.17 3.38%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
T-Mobile Us, Inc. (TMUS) $148.58 -11.70%
Vodafone Group Plc ADS (VOD) $15.56 -5.75%
Intel Corp. (INTC) $104.70 -5.24%
Micron Technology Inc. (MU) $1,029.00 -5.20%
Liberty Global plc Series A (LBTYA) $8.66 -4.20%
Charter Communications Inc. (CHTR) $103.38 -3.95%
Liberty Global plc Series C (LBTYK) $8.52 -3.85%
Skyworks Solutions Inc. (SWKS) $76.35 -3.33%
Starbucks Corp. (SBUX) $90.75 -3.01%