Oil prices are down, and stocks are up, though such moves have been quick to change since the war in Iran began.
The S&P 500 dropped 1.6% after a report showed U.S. employers cut more jobs last month than they created.
The Dow lost as many as 1,160 points Thursday before finishing the day with a drop of 784, or 1.6%.
Chip companies helped drive the gains on hopes for more big spending by Amazon and other customers building out their AI offerings.
A Chinese company called DeepSeek said it had developed a large language model that can compete with U.S. giants at perhaps a fraction of the cost.
U.S. stocks are drifting in early trading after leaping to records the day before as part of a worldwide rally.
Friday's data raised questions about how much the Federal Reserve will cut its main interest rate by at its meeting later this month.
Job openings in the U.S. fell unexpectedly in July, a sign that hiring could cool in the coming months.
The Dow Jones Industrial Average climbed 0.8%, and the Nasdaq composite added 1%.
Worries over the economy are front and center after a series of disappointing reports, including a weaker-than-expected jobs report on Friday.