U.S. stocks closed out the week of Nov. 9 with their first weekly gain since October, even after a Friday in which chipmakers gave back ground. The S&P 500 rose 2.5 percent for the week, its biggest weekly gain since August, AP reported. The Dow Jones Industrial Average added 2.1 percent and the Nasdaq Composite 2.3 percent, and all three had their best week since early August, CNBC reported. For the Nasdaq it was the first weekly gain in five weeks, according to AP.

On Friday, Nov. 13, the Dow rose 50.46 points, or 0.10 percent, to 52,347.55. The S&P 500 fell 30.73 points, or 0.40 percent, to 7,561.67, and the Nasdaq dropped 229.82 points, or 0.91 percent, to 25,136.27, Reuters reported.

The case for a turn, and the case against

The weekly numbers invite one reading: the selling that ran through October is over. Reuters noted that the S&P 500 and the Nasdaq each snapped a four-week streak of declines.

Friday is the objection. Stocks fell as a pullback in big AI-focused companies weighed on the market, AP reported, and the Dow recovered from an early slide to finish slightly higher. The indexes had opened higher after the morning's producer price report, with the Dow up 208 points just after the open, according to CNBC. By the close, the S&P 500 and the Nasdaq were lower.

The chip stocks did most of the damage. The Philadelphia semiconductor index fell 3.4 percent, Reuters reported. Advanced Micro Devices lost 8.8 percent, the worst performer in the S&P 500, while Broadcom fell 4.8 percent and Intel 2.5 percent, according to Kiplinger. Cisco fell 6.2 percent after its quarterly results, Kiplinger reported.

"Traders probably weren't excited about carrying positions into the weekend," Chuck Carlson of Horizon Investment Services told Reuters.

Nvidia, apart from the rest

Nvidia fell about 2 percent on Friday after Thursday's 4.3 percent decline, Reuters reported. CNBC said the stock ended the week down about 13 percent and has dropped more than 30 percent in six weeks, wiping out roughly $2 trillion of market value.

The sector did not follow it down. The S&P 500 technology sector rose more than 2 percent for the week, snapping a five-week slump, CNBC reported, and investors rotated into Apple, AMD and Broadcom earlier in the week. "The Nvidia story is now idiosyncratic," Mark Hackett of Nationwide Investment Management Group told CNBC.

Bonds told a different story

Stocks rose for the week. So did yields, which is the part a stock-only reading skips. The 10-year Treasury par yield was 5.15 percent on Nov. 13 and the 2-year was 4.88 percent, according to the Treasury's daily yield curve, up from 5.10 percent and 4.86 percent on Nov. 12, Invested Alpha reported, citing Treasury data. Reuters said the 2-year yield rose about 34 basis points over the week, its biggest weekly jump since April 2025. Saxo put the 10-year's weekly rise at 27 basis points.

Abroad, and a late jolt

The MSCI world index fell 4.15 points, or 0.37 percent, on Friday to 1,112.12, while Europe's STOXX 600 edged up 0.02 percent and posted its best week since late June, Reuters reported. Japan's Nikkei rose 0.53 percent on Friday to 61,142.35, CNBC reported; Smart Pro News put its weekly gain at about 6.5 percent.

In the final minutes, airline shares dropped after the Federal Aviation Administration issued a national ground stop of all departing flights, and the NYSE Arca airline index closed down 1.4 percent, according to Reuters.

What settles it

A 2.5 percent week is not a verdict on October's selloff, and one down Friday is not a verdict on the week. The prints that will carry more weight arrive soon. Nvidia reports after the close on Tuesday, and the Federal Reserve releases the minutes of its October meeting on Wednesday afternoon, according to CNBC's calendar.