Tech Rally Lifts Markets as Trump’s Putin Diesel Deal Eases

Stocks closed higher on Friday as the technology sector led a rebound from a choppy week marked by rising Treasury yields, elevated oil prices, and a pullback in artificial intelligence-related shares. The Nasdaq Composite advanced 0.64% to 27,366.17. The S&P 500 gained 0.59% to finish at 7,811.54, while the Dow Jones Industrial Average climbed 423.31 points, or 0.83%, to 51,654.95. Equities reached session highs after President Donald Trump said Russian President Vladimir Putin had agreed to supply diesel to both the United States and global markets. Oil prices, which had closed modestly higher earlier with West Texas Intermediate near $92 a barrel and Brent above $104, edged lower following the announcement. In a separate development, SpaceX shares rose about 1% after the Elon Musk-led company disclosed a deal to acquire a nationwide spectrum portfolio. The news weighed on traditional telecom stocks, with AT&T, Verizon, and T-Mobile declining as investors fretted over heightened competition in the wireless space.