Stocks Gain Most Since April as Tech Powers Rally: Markets Wrap
- Nasdaq 100 surges as Netflix climbs, S&P 500 rises 1.5 percent
- Stoxx 600 turns lower as traders sell off heading into weekend
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Stocks rose the most in six months Friday as technology shares, which led the longest rout in U.S. stocks in almost two years, bounced back to power major indexes higher. Treasuries fell, and the dollar rose with oil.
The S&P 500 Index gained 1.4 percent in the final hour of a wild up-and-down session, with trading 30 percent above average, to post its best performance since April 10. The benchmark had all but erased a morning rally that reached 1.7 percent, only to bounce higher after JPMorgan analysts said that selling forced by computer-driven strategies had likely run its course. Volatility ruled, though, with the index making another run at wiping out the gain before resuming its climb.