US Stocks Climb as Sentiment Improves Despite Tech Declines

US stocks rebounded from earlier losses Friday on a survey showing cooler-than-expected inflation expectations and easing rate hike concerns, which helped offset weakness in chip stocks that began overnight.

The S&P 500 climbed 0.1% at 1:55 p.m. in New York, erasing a nearly 1% loss earlier when it tested its 50-day moving average. Healthcare and consumer discretionary names offset declines in industrials and information technology. The tech-heavy Nasdaq 100 Index pared losses to 0.5%, while the Dow Jones Industrial Average was little changed.