US equity indexes rose on Friday, driven by a broad-based rally and strong gains in large technology companies, while crude oil prices declined. The Nasdaq Composite climbed 0.6% to close at 27,346.2. The S&P 500 advanced 0.6% to 7,808.5, and the Dow Jones Industrial Average increased 0.8% to 51,632.1.
Sector gains were led by real estate, consumer discretionary, and healthcare stocks. In the mega-cap category, defined by a market capitalization exceeding $200 billion, technology firms accounted for up to seven of the top ten gainers, according to data compiled by Finviz. Palo Alto Networks led this group of large-cap stocks, rising 5.1%.
Corporate news centered on Microsoft-backed OpenAI, which expects its annualized revenue to surpass $70 billion by the end of 2026. Bloomberg reported the projection on Friday, citing unnamed people familiar with the matter. Those sources indicated that annualized sales stood at roughly $50 billion at the end of September.
In related geopolitical developments, US President Donald Trump stated that he will soon release news concerning diesel. Speaking from the White House, Trump claimed that nearly record-high prices would soon come "tumbling" down. Al Jazeera reported the remarks, noting the president said, "We have a big announcement coming up on diesel, I think."
Commodity markets moved in the opposite direction of equities. The front-month US West Texas Intermediate crude oil contract slipped 0.5% to $91.04 per barrel. Global benchmark Brent crude edged 0.4% lower to $103.87 per barrel.