NEW YORK, May 13 (Xinhua) — U.S. stocks climbed on Friday, bolstered by a solid comeback in tech names.

The Dow Jones Industrial Average increased 466.36 points, or 1.47 percent, to 32,196.66. The S&P 500 rose 93.81 points, or 2.39 percent, to 4,023.89. The Nasdaq Composite Index jumped 434.04 points, or 3.82 percent, to 11,805.00.

All the 11 primary S&P 500 sectors ended in green, with consumer discretionary and technology up 4.1 percent and 3.44 percent respectively, leading the gains.

Shares of major U.S. tech giants, such as Meta Platforms, Apple, Amazon, Netflix and Google-parent Alphabet, all closed noticeably higher.

On the economic front, the University of Michigan reported Friday that its preliminary reading of consumer sentiment for May fell to 59.1 from a final April reading of 65.2, as concerns about inflation persisted. Economists polled by The Wall Street Journal had expected a print of 64.1.

Despite Friday’s rally, Wall Street’s three major averages posted weekly losses, amid twin concerns of surging inflation and central bank tightening.

For the week, the Dow dropped 2.1 percent, its seventh straight negative week. The S&P 500 and the tech-heavy Nasdaq fell 2.4 percent and 2.8 percent, respectively, for their sixth consecutive losing week.