Tech Stocks Rise in Late Hours on Broadcom Report: Markets Wrap

Stocks climbed in late trading after a positive report from Broadcom Inc. helped turn the tide for tech stocks.

The Nasdaq 100 had been the only major US equity gauge to close lower Thursday as disappointing earnings from Oracle, a bellwether of the AI investment boom, weighed on sentiment for big tech. But an upbeat revenue outlook from Broadcom helped revive the AI trade sending a $413 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) higher in the afterhours.