Tech Stocks Lead Rebound in Volatile U.S. Market

U.S. stocks closed higher as tech rebounds offset consumer declines. Micron, Nvidia, and Oracle led gains amid optimism in the AI sector. Nike and Lamb Weston faced setbacks due to poor sales and weak demand. Triple witching drove higher volatility, with options expiration influencing market dynamics.

In an eventful trading session, U.S. stocks wrapped up the week on a high note, spurred by a recovery in technology shares that countered significant declines in consumer stocks like Nike. The tech sector, buoyed by renewed interest in AI-related companies, saw ticker symbols like Micron and Nvidia make substantial gains.

Micron's shares soared 7% to a record peak, igniting optimism after robust forecasts, while Nvidia rose 3.9% following a review concerning potential shipments to China. Oracle jumped 6.6% amid news of structural changes within TikTok's operations. Financial analysts cited the resurgence of tech as a possible invitation for investors to return to this volatile market.

The broader market dynamics saw the S&P 500 and Nasdaq register gains, despite turbulence in consumer sectors. Volume spiked at 24.60 billion shares on U.S. exchanges, markedly above the recent average, as the stock landscape braced for fluctuations from a "triple witching" scenario of options and futures expiries.

(With inputs from agencies.)