US stocks rise amid tech recovery, Dow falls

US stocks closed higher on Friday as investors returned to bargain-hunting in companies that had declined amid a technology selloff. The Dow Jones fell, however, pressured by increased bets on tighter monetary policy following the release of the jobs report and consumer confidence data.

The Dow Jones Industrial Average fell 0.46%, or 237 points, to 51,285, bringing its weekly loss to 0.94%.

The broader S&P 500 rose 0.31%, or 23 points, to 7,376, while the Nasdaq Composite gained around 1.10%, or 264 points, to 24,579. However, both indexes recorded weekly losses of 2.68% and 3.37%, respectively.

In Europe, the Stoxx Europe 600 fell 1% to 648, ending the week with a modest gain of 0.24%.

The UK's FTSE 100 declined 1% to 10,673, Germany's DAX fell 1.92% to 25,820, and France's CAC 40 dropped 0.81% to 8,139.

In Japan, the Nikkei 225 plunged 5.95% to 57,434, while the broader TOPIX index of the Tokyo Stock Exchange fell 5.90% to 3,707.

Brent crude futures for January delivery settled at $98.32 per barrel, but fell 16.38% over the week.

Meanwhile, US NYMEX crude futures for December delivery rose 0.34%, or 31 cents, to $90.83 per barrel.

Gold futures for December delivery fell 0.94%, or $38.60, to $4,074.90 per ounce.

Market drivers

A recovery in semiconductor stocks led Wall Street's rebound, but gains were capped by expectations of an interest rate hike in December, concerns over AI regulation, and mounting pressure on high-valuation technology investments.