Wall Street snapped out of its holiday-season funk on Friday.

The S&P 500 rallied 1.3% for its first gain since Christmas and its best day in nearly two months. Strength for Big Tech stocks helped it break a five-day losing streak, its longest since April, and trim its loss for the week to 0.5%.

The Dow Jones Industrial Average rose 339 points, or 0.8%, and the Nasdaq composite leaped 1.8%.

Nvidia was the strongest force lifting the market after dashing 4.5% higher. Super Micro Computer, which sells servers for AI and other uses, jumped 10.9%, and Palantir Technologies climbed 6.3%.

Another influential Big Tech stock, Tesla, jumped 8.2% to bounce back from its 6.1% tumble the day before, when it disclosed it delivered fewer electric vehicles in the last three months of 2024 than analysts expected.

Rival Rivian soared 24.5% after saying it delivered more than 14,000 vehicles during the latest quarter. That was more than analysts expected.

On the losing end of Wall Street was U.S. Steel, which fell 6.5% after President Joe Biden blocked a nearly $15 billion deal proposed by Japan’s Nippon Steel to buy its Pittsburgh-based rival.

All told, the S&P 500 rose 73.92 points to 5,942.47. The Dow gained 339.86 to 42,732.13, and the Nasdaq composite jumped 340.88 to 19,621.68.

In the bond market, Treasury yields climbed after a report on U.S. manufacturing came in better than feared.

The 10-year Treasury yield rose to 4.59% from 4.56% late Thursday. The two-year Treasury yield, which more closely tracks expectations for Fed action, also rose, up to 4.28% from 4.25% late Thursday.

— Associated Press