Wall Street Ends Week Strong Amid AI Momentum and Tech Gains

U.S. stocks ended Friday's trading sharply higher, driven by strong technology shares and renewed momentum in AI trading, coinciding with the expiration of derivatives contracts (Triple Witching), which boosted trading volumes and volatility. The S&P 500 rose by about 0.9%, while the Nasdaq 100 surged by 1.4%, and the Dow Jones added over 180 points, continuing its gains for the second consecutive session. Oracle led market gains, rising by more than 7% after announcing an agreement to sell TikTok's U.S. operations to a joint entity that includes Oracle and private equity firm Silver Lake, restoring confidence in data infrastructure and AI investments. Micron Technology also performed strongly, gaining nearly 7% on renewed optimism about demand for memory chips linked to AI applications. In a related context, Nvidia's stock rose by more than 3% following reports that the U.S. administration is reviewing the possibility of allowing the sale of certain advanced chips to China, temporarily easing regulatory concerns that had pressured the stock recently. Conversely, Nike's stock suffered a sharp decline of over 11% after the company announced weak revenues in the Chinese market, compounded by high tariffs affecting profit margins, increasing pressure on retail sector stocks. This performance reflects a clear divergence in investor sentiment, with liquidity flowing towards technology and AI companies, while consumer-related sectors continue to face challenges from slowing demand and rising costs. Investors are keenly awaiting the next phase to determine if the tech gains mark the beginning of a new upward wave or merely a temporary rebound driven by technical factors and the expiration of derivatives contracts.