U.S. stocks on Friday surged, as Wall Street finally appeared to shake off the doldrums afflicting it this week. A dull end to 2024 and a dour start to 2025 derailed the Santa Claus rally, and the three major averages were set for weekly losses of nearly 1% each.

Rising technology stocks helped U.S. indexes recover more of their holiday-season slide that bridged the new year.

A broad rally sent all three major U.S. stock indexes to a higher close, with megacap growth companies, such as Tesla and Nvidia, providing much of the muscle to the upside and putting the tech-heavy Nasdaq out front.