Nasdaq rebounds but logs fourth straight weekly decline

Technology stocks rebounded sharply on Friday, but the Nasdaq Composite posted its fourth consecutive weekly decline, closing down 3.4% for the week after entering correction territory. The semiconductor sector led gains, with Nvidia rising 2.8% and Advanced Micro Devices adding 11%, while the Nasdaq ended up 1.1%. The recovery was driven by sustained investor faith in artificial intelligence, despite a selloff triggered by a Treasury yield spike and recent volatility. Strong October job data, with nonfarm payrolls exceeding expectations and unemployment at 4.1%, boosted bets on a Federal Reserve rate hike next month to a 78% probability. The S&P 500 fell 2.7% for the week, its worst performance in over a year, while the Dow slipped 0.9%. Analysts view the pullback as a potential buying opportunity, citing resilient copper futures as a bullish signal for AI infrastructure demand.