Stocks closed higher Friday as investors positioned ahead of a busy earnings week, with technology shares leading the charge. The S&P 500 gained 0.8% to 6,485, while the Nasdaq jumped 1.2% to 18,650. The Dow Jones added 0.6% to close at 45,920, capping off a solid week for equities.
NVIDIA powered the tech rally with a 4.7% surge as anticipation built for the company's earnings report next Tuesday. Semiconductor stocks broadly outperformed on optimism around AI infrastructure spending. Microsoft and Apple also contributed to the Nasdaq's outperformance, rising 2.1% and 1.8% respectively.
Energy was the day's laggard as oil prices pulled back from recent highs. Exxon Mobil fell 2.8% to lead decliners, while Chevron dropped 1.9%. The retreat in crude oil to $82.50 per barrel came as traders took profits following this week's geopolitical premium.
The VIX fear gauge remained subdued at 16.8, reflecting investor confidence heading into the weekend. Gold held steady near $2,385 as Treasury yields showed little movement following mixed economic data.