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Indexes up: Dow 0.34%, S&P 500 0.23%, Nasdaq 0.24%

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Applied Digital ( APLD ) rises on quarterly revenue beat

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Levi Strauss slips after downbeat FY profit forecast

(Updates after markets open)

By Niket Nishant and Sukriti Gupta

Oct 10 (Reuters) - Wall Street's main indexes gained on

Friday, with the tech-heavy Nasdaq hitting an intraday record

high, while investors analyzed the consumer sentiment data for

fresh insights into the economy.

Traders remain bullish on equities despite Thursday's

declines, betting that the AI-driven momentum remains intact.

Some analysts expect the AI trade, mostly concentrated in tech

so far, to spill over into energy and construction firms as

demand for data center buildout accelerates.

"Investors see little pullbacks as opportunities to nibble

in and add more capital. There's just a lot of money sloshing

around in the system," said Aleksandr Spencer, chief investment

officer at Bogart Wealth.

Others add that the nearly three-year-old bull market still

has room to run, especially if the Federal Reserve continues to

lower interest rates.

Recent data has reinforced expectations for easing. While

the government shutdown has delayed official releases, proxies

point to a weakening labor market, with layoffs tied to the

impasse likely to deepen the strain.

At 10:07 a.m. ET, the Dow Jones Industrial Average

rose 159.54 points, or 0.34%, to 46,517.96. The S&P 500

gained 15.69 points, or 0.23%, to 6,750.80, while the Nasdaq

Composite advanced 55.46 points, or 0.24%, to 23,079.81.

The S&P 500 and the Nasdaq were on track to log weekly

gains, if current levels hold.

The S&P 500 tech sector gained 0.3%. Intel ( INTC )

gained 2.6% after brokerage TD Cowen raised its price

target on the stock.

The gains in tech stocks also boosted the Nasdaq.

Financials rose 0.2% on the S&P 500, while energy

stocks declined 1%.

A preliminary reading of the University of Michigan's

consumer sentiment index for October came in at 55, compared

with the estimate of 54.2, according to economists polled by

Reuters.

Investors are likely to closely assess the print given the

added significance it carries because of the official data

blackout.

They are also weighing developments in the Middle East,

where Israeli troops began pulling back from some parts of Gaza

under a ceasefire deal with Hamas. Signs of easing tensions

could boost sentiment by removing a long-standing overhang on

equities.

The earnings season, which kicks off next week, is expected

to be the next litmus test for the rally.

Marvell Technology ( MRVL ) rose 3% after Oppenheimer raised

its price target on the stock. Data center operator Applied

Digital ( APLD ) surged 31.7%, a day after posting

better-than-expected revenue for the first quarter.

Oracle jumped 2% after Citigroup raised its price

target on the stock.

PepsiCo ( PEP ) rose 2.7% after at least four brokerages

raised their price targets on the stock.

Levi Strauss shares slipped 10.2% after it forecast

annual profit below analysts' expectations.

Mosaic Co's ( MOS ) shares lost 7.2% after the fertilizer

producer said its third-quarter phosphate production was below

its forecast.

Qualcomm ( QCOM ) fell 1.3% after China's market regulator

said the country has launched an antitrust investigation into

the semiconductor manufacturer over its acquisition of Israel's

Autotalks.

Advancing issues outnumbered decliners by a 1.48-to-1 ratio

on the NYSE and by a 1.04-to-1 ratio on the Nasdaq.

The S&P 500 posted 13 new 52-week highs and four new lows,

while the Nasdaq Composite recorded 79 new highs and 31 new

lows.

(Reporting by Niket Nishant and Sukriti Gupta in Bengaluru;

Editing by Anil D'Silva and Shilpi Majumdar)