A rally for tech stocks applied some salve on Wall Street’s rough week, one dominated by worries about a weakening economy.
The S&P 500 rose 1.9% Friday, but still ended with its first weekly loss in the last three. The Nasdaq added 2.7% and the Dow rose 1%.
Google’s owner rose after saying it was slashing expenses by laying off workers. It’s the latest Big Tech company to acknowledge expanding too quickly in recent years. Netflix surged after reporting a jump in subscribers.