Update: Tech-Heavy Nasdaq Rebounds at End of Bruising Week For Wall Street

04:48 PM EST, 11/06/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) The Nasdaq Composite notched gains to cap off a volatile week on Wall Street, as traders snapped up battered technology stocks and reacted to a strong jobs report on Friday. The tech-heavy index rose 1.1% to 24,579.42, a day after it plunged into correction territory. The S&P 500 gained 0.3% to close at 7,376.86, while Dow Jones Industrial Average fell 0.5% to 51,285.73. Among sectors, tech paced the gainers, while consumer staples posted the biggest decline. "(Thursday's) technology-led rout wiped nearly $3 trillion off the market value for S&P 500 companies on fears that Democratic control of the US Congress could lead to tougher (artificial intelligence) regulation," D.A. Davidson said in a report Friday. This week, the Nasdaq shed 3.4%, while the S&P 500 lost 2.7% to log their fourth consecutive weekly losses. The Dow dropped 0.9%, marking its second weekly decline in a row. On Thursday, the indexes erased their gains from a rally on Wednesday following the US midterm elections. "If stocks rallied on Wednesday because of lower oil prices and prospects of a conclusion to the US-Iran conflict, they dropped on Thursday because of the realization that the growth might slow if the US's 'blue wave' of Democratic victories results in a mandated slowdown in data center," Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said in a report. "That slowdown in data center construction would lead to a generalized slowdown in the US economy, by extension." Friday's winners include bellwether Nvidia (NVDA), which rose 2.8%, the best performer on the Dow. Chipmaker Advanced Micro Devices (AMD) jumped 11%, the third-biggest gain on the S&P 500. Micron Technology (MU), Sandisk (SNDK) and Marvell Technology (MRVL) also rebounded. In economic news, the US economy added more than double the jobs Wall Street expected, boosting the odds for a Federal Reserve interest rate hike next month. "The strong gain in non-farm payrolls, upward revisions to past increases, and the drop in the unemployment rate all underline that labor market conditions are gradually tightening," Oxford Economics Senior US Economist Matthew Martin said in a note e-mailed to MT Newswires. "That frees up the (Fed) to focus on inflation." New York Fed President John Williams said Friday that inflation has been "too high for too long" and that it was essential to bring it back down to the central bank's 2% target in a timely manner, Reuters reported. Williams said US economic growth has remained resilient amid a stable labor market. Cleveland Fed President Beth Hammack said Thursday that the Fed may need to continue raising interest rates to curb inflation. Treasury yields were higher, with the two-year rate up 3.5 basis points at 4.51% and the 10-year rate rising 2.2 basis points to 4.86%. West Texas Intermediate edged up 0.1% to $90.60 a barrel in Friday late-afternoon trade, while Brent crude dropped 0.4% to $97.94 a barrel. Airbnb (ABNB) jumped nearly 12%, the second-biggest gainer on the S&P 500, after the vacation rental company reported higher-than-expected third-quarter results late Thursday. Airbnb is poised to sustain "healthy" growth into next year, aided by pricing initiatives and the rollout of its own artificial intelligence agent, B. Riley Securities said in a note e-mailed Friday. Moderna (MRNA) climbed 5.3% as the company raised its full-year revenue growth outlook. Spot gold dipped 0.5% to $4,065.96 per troy ounce, while silver declined 0.8% to $51.96 per ounce.