Tech Stocks Surge as Nike Stumbles Amid China Sales Weakness

Wall Street’s major indices opened higher on Friday, fueled by a rebound in technology stocks following a midweek slump. Meanwhile, Nike shares fell due to disappointing sales figures from China, which negatively impacted its quarterly performance.

Wall Street's major indexes experienced a boost on Friday, driven by the resurgence of technology stocks that had been hit by a selloff earlier in the week.

However, Nike faced a setback as weaker-than-expected sales in China weighed heavily on its quarterly earnings.

The session saw the Dow Jones Industrial Average climb by 87.38 points to close at 48,051.77. The S&P 500 rose by 20.66 points to end at 6,795.42, while the Nasdaq Composite advanced by 105.27 points, reaching 23,111.63.

(With inputs from agencies.)