The Dow Jones closes up more than 400 points, posting weekly gains.

Market News · samer saeed · October 11, 2026

The Dow Jones closes up more than 400 points, posting weekly gains.

U.S. stocks rose during Friday's trading, supported by the technology sector, as investors sought to recover from a volatile week that saw a rise in Treasury yields and oil prices, alongside a decline in AI-related stocks. At the close of the session, the Nasdaq Composite index rose 0.64% to close at 27,366.17 points, while the S&P 500 index rose 0.59% to 7,811.54 points. The Dow Jones Industrial Average gained 423.31 points, or 0.83%, to end the session at 51,654.95 points. Stocks hit their session highs after U.S. President Donald Trump said that his Russian counterpart, Vladimir Putin, had agreed to supply diesel to the United States and global markets. Oil prices had closed slightly higher, with West Texas Intermediate (WTI) crude futures nearing $92 per barrel, while Brent crude contracts exceeded $104. However, prices retreated slightly after Trump's announcement during after-hours trading. Shares of SpaceX rose 1% after the space and satellite company led by Elon Musk announced an agreement to acquire a set of spectrum licenses covering the entire United States. Conversely, shares of AT&T, Verizon, and T-Mobile fell amid investor concerns that the deal would intensify competition in the telecommunications sector.

Technology and healthcare stocks led the gains. The gains extended to other technology companies during Friday's session, coinciding with the rise of SpaceX. Software stocks led the positive momentum, with Palo Alto Networks rising 5%, and CrowdStrike and Palantir Technologies climbing 4% and 5%, respectively. Microsoft shares also rose 2%, while Amazon, one of the "Magnificent Seven" group, added about 3%. Outside the technology sector, the healthcare sector also stood out, with shares of Merck and Gilead Sciences rising by more than 2% each. Vaccine company stocks, including Moderna, also jumped amid optimism regarding reports of U.S. National Institutes of Health (NIH) efforts to develop cancer vaccines.

Technology stocks, particularly those related to artificial intelligence, were among the most notable weak points in Thursday's session after CNBC confirmed that OpenAI had informed investors that its annualized revenue reached $50 billion by the end of September. Widespread reports last month had pointed to a figure of $68 billion, but a source familiar with the matter clarified that this figure also included total revenue generated by partners. The Nasdaq index fell by more than 1% on Thursday, marking its largest daily loss since mid-August. It was the second consecutive session of losses for the tech-heavy index, after it had recorded new record highs earlier in the week. He added that the main problem in the AI sector is not related to the difference between total revenue...

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