The Dow Jones Industrial Average posted gains Friday as initial jobless claims fell to 208,000, signaling labor market resilience. Advanced Micro Devices rose 5% on strong earnings momentum, while KLA Corporation triggered a hold rule after a surge in trading volume.
- Initial jobless claims fell to 208,000, below the forecasted 215,000.
- Advanced Micro Devices (AMD) shares rose 5% on strong earnings and AI chip roadmap.
- KLA Corporation (KLAC) triggered a hold rule after a 9.2% intraday surge and elevated trading volume.
- Dow Jones Industrial Average gained 122 points (0.34%) to close at 35,761.
- S&P 500 and Nasdaq Composite rose 0.2% and 0.1%, respectively, on tech-led momentum.
- Semiconductor sector gains fueled by improving data center and AI infrastructure demand.
The Dow Jones Industrial Average climbed 122 points, or 0.34%, closing at 35,761, driven by a decline in weekly jobless claims to 208,000—lower than the expected 215,000. The drop reinforced expectations of sustained economic strength and tempered inflation concerns, supporting risk-on sentiment across equities. Advanced Micro Devices (AMD) shares rose 5% following a strong performance in its latest quarterly results, with revenue surpassing analyst estimates by 7% and data center sales increasing 18% year-over-year. The company also announced a new AI chip roadmap, reinforcing investor confidence in its long-term growth trajectory. Meanwhile, KLA Corporation (KLAC) triggered a regulatory hold rule after its stock surged 9.2% in early trading, with volume exceeding 10 million shares—over 200% above its 30-day average. The spike followed a positive update from a major semiconductor client regarding fab utilization rates, though the company has not issued formal guidance on the matter. The broader market showed modest gains, with the S&P 500 rising 0.2% and the Nasdaq Composite edging up 0.1%. Technology stocks led the advance, supported by optimism around AI infrastructure spending and improved semiconductor demand trends.