Tech shares lead as US stocks end week on positive note

Despite lackluster economic data, Wall Street stocks posted their best session of the week Friday, with tech shares leading the market higher.

The Nasdaq Composite Index jumped 2.3 per cent to 10,913.56, as indices shook off early weakness.

The Dow Jones Industrial Average finished up 1.3 per cent at 27,173.96, while the broad-based S&P 500 gained 1.6 per cent to 3,298.46.

“The market has been under pressure for a while and is just catching a bit of a bargain-hunting Friday,” said Art Hogan, chief market strategist at National Securities.

Despite Friday’s session, both the Dow and S&P 500 closed the week with losses.

US durable goods orders grew by 0.4 per cent in August, below estimates and a much slower level of growth than July’s upwardly revised 11.7 per cent increase.