S&P 500 Notches Weekly Gain as Tech Stocks Lead Rally

A rally in mega-cap technology stocks helped drive the S&P 500 to a weekly gain as traders weighed an uptick in US consumer sentiment against expectations for volatility with a record options expiration.

The S&P 500 Index closed 0.9% higher on Friday, enough to push the index to a weekly gain. Information technology was the top-performing sector with gains from AI-linked stocks including Nvidia Corp., which was cleared to finalize an investment in Intel Corp. Oracle Corp. shares rose 6.6%, the most since September, as the TikTok purchase is seen as a positive.