In stocks, American Express topped the Dow by jumping more than 7% and climbing above its 329.14 buy point. Shares soared as the credit card giant raised its outlook and beat third-quarter expectations. Apple AAPL was the Dow's second-best performer, up 2%.

Broadcom and OpenAI have entered into a multiyear partnership to develop powerful artificial intelligence (AI) systems with custom accelerators.

QuantumScape (QS), a developer of next-generation solid-state lithium-metal batteries, is set to release its third-quarter 2025 financials after market close on October 22. The stock has rallied nearly 225% year-to-date and 207% over the past year,

The S&P 500 rose 0.5% Friday. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite climbed 0.5%.

U.S. stocks respond to China trade tensions and the big banks get the third quarter earnings season into gear.

Though Tesla's stock didn't move much after its better-than-expected deliveries report, the shares have had a remarkable runup in recent months, as bulls shift much of their focus from sales of electric vehicles to Elon Musk's compensation package, robotaxis and AI.

Stocks slumped after another turbulent day of trading. The S&P 500 fell 0.6% Thursday after erasing a morning gain.