Tesla and SpaceX shares rebound sharply after previous day's drop
Tesla stock climbs 4.2% and SpaceX jumps 8.6% following a sharp decline on Thursday. The rebound occurs as the semiconductor index gains 4.2% on Friday, driven by Nvidia and AMD, while the Nasdaq ends the day up 1.1% but marks its fourth straight weekly loss, down 3.4% for the week. The S&P 500 closes at 7,376.86 points and the Dow Jones at 51,285.73 points. October nonfarm payrolls exceed expectations and unemployment falls to 4.1%, with markets pricing a 78% chance of a Fed rate hike in December.
Key facts
- Semiconductor index rise is led by Nvidia and Advanced Micro Devices.
- Nasdaq weekly decline totals 3.4% despite daily gain.
- S&P 500 and Dow Jones closing levels are 7,376.86 and 51,285.73 points respectively.
- Unemployment rate drops to 4.1% in October.
- LSEG data shows 78% market expectation for a December Fed hike.
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Why it matters
Share rebounds show resilience in tech stocks amid mixed market signals.
What changed
First published from CNBC and The Economic Times