Shares of technology companies surged after weekly jobs data eased concerns about a potential recession, causing a relief rally in the hard-hit sector.
The Roundhill Magnificent Seven exchange-traded fund, which tracks the seven largest mega-cap tech stocks, rose by more than 3%. Chipmaker Nvidia, the poster-child for artificial intelligence, advanced by more than 6%, but roughly 20% below its July peak -- still in bear-market territory.
U.K. antitrust officials are probing whether Amazon.com's multibillion-dollar investment in artificial-intelligence company Anthropic poses a threat to competition, the latest foray by European regulators into ties between U.S. tech giants and AI startups.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-08-24 1817ET
