Stocks rose Friday as the three major indices pushed higher following a volatile week of trading.
Tech shares including Amazon (AMZN) and Apple (AAPL) hugged the flat line, after falling at least 2.8% each during the regular session on Thursday. The Nasdaq recovered some losses after falling 2% Thursday, as the index was pressured by an ongoing rout in some of their most heavily weighed big tech shares.
Better than expected quarterly earnings results sent shares of some other tech names decidedly higher. Shares of Peloton (PTON) jumped more than 12% after the connected fitness company topped fourth-quarter expectations and grew revenue 170% over last year, as demand for the firm’s at-home fitness equipment exploded during the pandemic. Oracle (ORCL) also reported a solid top-line beat, with demand for its cloud-computing services seeing strong uptake as more individuals work and go to school from home.