NEW YORK: Wall Street’s main indexes inched higher in choppy trading on Friday as AI optimism buoyed sentiment and oil prices eased, while investors monitored efforts to secure a deal to end the Middle East conflict.
Microsoft shares rose 3.3 percent and were the biggest boost to the S&P 500, after the software giant unveiled several new capabilities in its Copilot app, including a coding tool and an always-on AI agent.
Chip maker Qualcomm gained 5.1 percent and Nvidia was marginally higher, while Dell advanced 5 percent.
AI-related optimism was a key driver this week, aided by Meta’s Muse and its integrated device, Charm, gaining traction among young consumers. Some analysts pointed to it as a product of massive spending on the technology. However, the stock eased 3.2 percent and trimmed weekly gains to about 13 percent.
At 11:28 a.m. ET the Dow Jones Industrial Average rose 176.76 points, or 0.34 percent, to 51,526.74, the S&P 500 gained 14.02 points, or 0.18 percent, to 7,718.15 and the Nasdaq Composite gained 57.69 points, or 0.21 percent, to 26,997.07.
Declines in seven of the 11 S&P 500 sectors were offset by a 0.8 percent gain in the heavyweight technology sector — the week’s best performer. Both the S&P 500 and the tech-heavy Nasdaq were set for weekly advances.
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