After Thursday's broad-based tech selloff, Wall Street staged a rebound as a softer-than-expected inflation print reinforced expectations for interest-rate cuts during the year.
The annual inflation rate slowed from 2.7% to 2.4% in January, undershooting forecasts of 2.5% and marking the lowest reading since May 2025.
Core inflation — which strips out food and energy — also cooled, easing from 2.7% to 2.5% year over year, the lowest level since March 2021.
Small caps led the advance. The Russell 2000, a benchmark for small-cap stocks, climbed nearly 1.8%, outperforming its large-cap peers.
In commodities, gold jumped 2% to trade above $5,000, fighting to end the week in positive territory. Silver surged almost 4%, topping $77 per ounce.
Bitcoin (CRYPTO: BTC) also caught a bid, rallying 4.6% and positioning to snap a four-day losing streak.
Corporate earnings were broadly supportive. Applied Materials Inc. (NASDAQ:AMAT) soared 9% after delivering upbeat quarterly results. Arista Networks Inc. (NYSE:ANET) also gained 6%, Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) advanced 7.2%, Airbnb Inc. (NASDAQ:ABNB) added 4%, and Coinbase Global Inc. (NASDAQ:COIN) surged 17%.
Rivian Automotive Inc. (NASDAQ:RIVN) jumped 27% — marking the strongest session in the company's history — after reporting a narrower-than-expected quarterly loss.
Elsewhere, DexCom Inc. (NASDAQ:DXCM) and Roku Inc. (NASDAQ:ROKU) each gained 9%, while Wynn Resorts Ltd. (NASDAQ:WYNN) climbed 5%.
On the downside, Cameco Corp. (NYSE:CCJ) slipped 3% despite sharply beating estimates. DraftKings Inc. (NASDAQ:DKNG) and Pinterest Inc. (NYSE:PINS) tumbled 12% and 18%, respectively.
Friday’s Performance In Major US Indices, ETFs
| Major Indices | Price | 1-day %change |
| Russell 2000 | 2,663.79 | 1.8% |
| Nasdaq 100 | 24,894.96 | 0.8% |
| S&P 500 | 6,879.94 | 0.7% |
| Dow Jones | 49,733.76 | 0.6% |
According to Benzinga Pro platform:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.6% to $630.40.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) moved 0.5% to $497.10.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) gained 0.8% to $605.60.
- The iShares Russell 2000 ETF (NYSE:IWM) traded up 1.8% at $264.21.
- The Utilities Select Sector SPDR Fund (NYSE:XLU) outperformed, up 2.9%; the Financial Select Sector SPDR Fund (NYSE:XLF) lagged, down 0.3%.
Russell 1000’s Top Gainers On Friday
| Stock Name | % Change |
|---|---|
| Rivian Automotive, Inc. | +26.83% |
| Coinbase Global, Inc. | +17.04% |
| Procore Technologies, Inc. (NYSE:PCOR) | +11.54% |
| Fermi Inc. (NASDAQ:FRMI) | +11.23% |
| HubSpot, Inc. (NYSE:HUBS) | +9.55% |
Russell 1000’s Top Losers On Friday
| Stock Name | % Change |
|---|---|
| Bright Horizons Family Solutions (NYSE:BFAM) | -21.32% |
| Pinterest, Inc. | -17.55% |
| Fortune Brands Innovations | -15.16% |
| DraftKings Inc. | -13.18% |
| Ryan Specialty Holdings, Inc. (NYSE:RYAN) | -12.46% |
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