US stocks closed with all three major indexes rising, with the Nasdaq up more than 2%, and Apple rising 4.7% after earnings; regional bank stocks rebounded violently.

Nasdaq hits near eight-month high, while S&P and Dow are still down for the week. Intraday, Tesla and Apple surge over 5%, offsetting the double-digit declines of several regional bank stocks on Thursday.
Overall, the three major US stock indexes opened higher and maintained an upward trend, with all rising more than 1% in early trading. They hit intraday highs at midday. $Nasdaq Composite Index (.IXIC.US)$ Rising nearly 2.5%, $S&P 500 Index (.SPX.US)$ Rising over 2.1%, $Dow Jones Industrial Average (.DJI.US)$ Rising over 620 points, up nearly 1.9%. In the end, the three major indexes rebounded after collectively falling for four consecutive days.

The Nasdaq, which hit a low since Wednesday, April 26th for two consecutive days, closed up 2.25% at 12,235.41, setting a new high since last September 12th that was set last Friday. The S&P rose by 1.85%, with both the Nasdaq and S&P marking their largest gains since last Thursday at 4,136.25, after hitting new lows since April 26th for two consecutive days, without getting closer to the closing low since March 30th set on April 26th. The Dow gained 546.64 points, a 1.65% increase, marking the largest gain since the announcement of the December U.S. non-farm payroll report on January 6th, reaching 33,674.38 and bidding farewell to the closing low since March 30th set on Thursday.

Small-cap stock indexes dominated by value stocks $Ishares Russell 2000 Value Etf (IWN.US)$ rose 2.39%, outperforming the large-cap stocks, breaking away from the low set by last October on Thursday. The technology-heavy $Invesco QQQ Trust (QQQ.US)$ rose 2.13% after falling for four consecutive days to its highest level since August of last year.

Thanks to the big gains on Friday, major U.S. stock indexes recorded cumulative gains this week. The Nasdaq rose by 0.07% and the Nasdaq 100 by 0.1%, marking a two-week consecutive increase. However, the Dow fell by 1.24%, giving up the gains from last week's rebound, marking the second consecutive week of losses in the past seven weeks. The S&P fell by 0.8% from last week's rally, marking the third consecutive week of losses in the past eight weeks. The Russell 2000 fell 0.51%, after two weeks of consecutive gains, marked by two weeks of decline.

S&P 500 sectors rose collectively on Friday, driven by the rise in crude oil. $Energy Select Sector SPDR Fund (XLE.US)$ rose nearly 2.8%, led by Apple's $The Technology Select Sector SPDR® Fund (XLK.US)$ rose 2.7%, led by bank stocks $Financial Select Sector SPDR Fund (XLF.US)$ Rising more than 2.4%, where Tesla is located $Consumer Discretionary Select Sector SPDR Fund (XLY.US)$ rose 2%, $Industrial Select Sector SPDR Fund (XLI.US)$ 、 $Materials Select Sector SPDR ETF (XLB.US)$ 、 $Real Estate Select Sector Spdr Fund (The) (XLRE.US)$ Rise by over 1%, $Consumer Staples Select Sector SPDR Fund (XLP.US)$ Up 0.93%. Only three sectors accumulated gains this week. $The Technology Select Sector SPDR® Fund (XLK.US)$ Up 0.6%, $The Health Care Select Sector SPDR® Fund (XLV.US)$ And $Utilities Select Sector SPDR Fund (XLU.US)$ Up less than 0.1%. Among the eight sectors that declined, the energy sector led the way with a 5.8% drop, while the financial and communications services sectors fell over 2%.

Most of the leading technology stocks rose. $Tesla (TSLA.US)$ Up 5.5%, rising for three consecutive days to its lowest level since April 19. Among the six major FAANMG technology stocks, the stock that has fallen for four consecutive days $Apple (AAPL.US)$ In the midday of the day after the release of the quarterly report, it rose more than 5.1%, marking the first time it has risen more than 5% since November 30 last year. It closed up 4.7%, the largest closing gain since November 30 last year, and reached a new closing high since August 18 last year. $Microsoft (MSFT.US)$ Up 1.7%, rising for two consecutive days to its highest level since January 7 last year. $Amazon (AMZN.US)$ The closing rose by 1.6%, marking the fourth consecutive rise to a high since April 27th; fell back on Thursday. $Alphabet-A (GOOGL.US)$ The closing rose by 0.8%, failing to approach the low set on March 30th since last Wednesday. $Netflix (NFLX.US)$ The closing rose by 0.6%, after two consecutive days of decline on Tuesday, marking the third consecutive rise since the low on March 22nd; while Facebook's parent company $Meta Platforms (META.US)$ Closed down by over 0.3%, marking the fourth consecutive decline, continuing to refresh the low since last Wednesday.

After the overall three-day decline, chip stocks also followed the rebound of the market. $PHLX Semiconductor Index (.SOX.US)$ And $iShares Semiconductor ETF (SOXX.US)$ Closed up approximately 2.3% and 2.2% respectively. Among individual stocks, Microsoft spokesperson denied the joint development of AI chips with AMD on Thursday, while $NVIDIA (NVDA.US)$ Closed up nearly 4.1%, after the news of developing AI chips on Thursday, it surged over 6% against the market. $Advanced Micro Devices (AMD.US)$ Up 3.7%.

Bank stocks rebounded across the board. $KBW Nasdaq Bank Index (.BKX.US)$ Up 4.6%, breaking away from the low set since September 2020 after a nearly 4% drop in four consecutive days. $Spdr Series Trust S&P Regional Bkg Etf (KRE.US)$ Up 6.3%, ending four consecutive days of decline and breaking away from the lows set since November 2020 and October 2020 respectively.

Regional banks outperformed the broader market. Among individual stocks, up 81.7%, marking the largest intraday gain since the bank's listing in 2000, completely offsetting the slight over 50% decline from Thursday's close. It has still fallen over 40% in the past five days. Among the three banks recently upgraded by J.P. Morgan Chase, up 49.2% after a approximately 12% drop on Thursday. $PacWest Bancorp (PACW.US)$ Up 81.7%, marking the largest intraday gain since the bank's listing in 2000, completely offsetting the slight over 50% decline from Thursday's close. It has still fallen over 40% in the past five days. Among the three banks recently upgraded by J.P. Morgan Chase, up 49.2% after a approximately 12% drop on Thursday. $Western Alliance Bancorp (WAL.US)$ Up 49.2%, after a approximately 12% drop on Thursday. $Zions Bancorp (ZION.US)$ Up 19.2%, after a drop of over 12% on Thursday. $Comerica (CMA.US)$ Increase by 16.8%.