Shares of technology companies rose as traders sloughed off a weak report from a major chipmaker, concentrating on the implications of inflation data for Federal Reserve policy.
Intel shares tumbled after the chip giant posted a hefty fourth-quarter loss, as Carvana shares surged as fears about the online car-sales concern's future moderated.
Shares of electric-car maker Lucid Group rallied amid speculation that the company could be taken private by a Saudi investment fund.
Tesla shares added more than 12%, bringing gains for the week to more than 35%, as investors were heartened by reassurances from Chief Executive Elon Musk about demand.
Salesforce appointed three new directors, including the finance chief of Mastercard, to its board as a potential proxy fight with activist investor Elliott Management looms.
Write to Rob Curran at rob.curran@dowjones.com
Tech Up As PCE Data Trumps Intel Earnings -- Tech Roundup - MarketWatch
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