Dow Jones and Nasdaq Index: Tech Stocks Bounce as US Indices Find Support

Stocks Climb as Tech Finds a Floor — For Now

Stocks pushed higher Friday, clawing back some ground after a bruising week that saw Big Tech lose over $1 trillion in market cap and crypto markets teeter. The Dow rose 1.4%, the S&P 500 gained 1%, and the Nasdaq added 0.9% — modest wins, but wins nonetheless after the carnage.

Buyers stepped in on dip levels, though it’s hard to call this a vote of confidence — more like relief that the bleeding stopped. The bounce feels more like short-covering and bargain hunting than conviction, but at least the selling pressure eased.

Index Breakdown: Dow Leads, Nasdaq Still Has Work to Do

The Dow’s in the best shape of the three. It posted a fresh record near 49,694 and is pressing a key uptrend line at 49,702. The 50-day moving average at 48,607 is holding as support, which keeps the bullish case intact. Blue chips are doing what they’re supposed to do — staying steady while tech sorts itself out.

The S&P 500 is right at the 50-day moving average (6,884), trying to reclaim it. But there’s resistance stacked above at 6,891 to 6,918 — until it clears that zone, the upside momentum hasn’t returned. The index is at a decision point.

The Nasdaq’s the weakest link. It’s rallying hard intraday, but the first real test is 22,959. Even if it gets there, the 50-day at 23,389 looms. The trend is still lower, and there’s a lot of work to do before you can say this index has turned the corner.

Sectors: Tech Bounces, Consumer Discretionary Lags

Tech led the charge, up 3.1%, with beaten-down names finally catching a bid. Industrials (+1.7%) and Financials (+1.6%) rode the broader risk-on tone. Even Utilities and Materials posted modest gains — not exciting, but steady.

Consumer Discretionary got hit, down 2.4%, dragged by Amazon’s 9% drop. Communication Services fell 1.2% as well, showing that not all corners of the market are buying the recovery story yet. When your two weakest sectors are consumer-facing and ad-dependent, that’s a signal that growth concerns are still lurking.

Stock Movers: Amazon Weighs, Drugmakers Pop

Amazon’s the headline — down 9% after missing earnings and announcing $200 billion in capex for the year. That’s a staggering number, and the market’s clearly questioning whether all that AI spending will pay off. It’s weighing on Consumer Discretionary and casting a shadow over Big Tech’s spending spree.

On the flip side, Nvidia rose 3% and Microsoft gained 1% after both saw near double-digit drops this week. Reddit popped 2% on a beat and buyback news — proof that not every stock tied to tech is getting painted with the same brush.

Drugmakers had a strong day. Novo Nordisk and Eli Lilly jumped 8% and 4% after the FDA said it would crack down on illegal copycat weight-loss drugs. Hims & Hers fell 6% on the news — regulatory risk biting back.

Molina Healthcare cratered 28% after posting a loss and slashing revenue guidance. Strategy shares, a bitcoin proxy, bounced 8% as crypto stabilized.

Bottom Line: One Day at a Time

The question now is whether dip-buyers have staying power, or if this is just a pause before the next leg lower. If the Nasdaq can reclaim its pivot and the S&P pushes through resistance, there’s a case for a real recovery. But right now, buyers aren’t chasing — they’re testing. And the market’s still deciding if it wants to believe.

More Information in our Economic Calendar.