India, Nov. 23 -- U.S. stocks rallied on Friday as investors increased bets that the Federal Reserve will cut interest rates next month, while all three of the major indexes posted losses for the week amid concerns over lofty technology valuations.

The Nasdaq fell for a third straight week in its longest run of weekly losses since March. The index is now down 7% from its October high.

During the session, shares of Nvidia briefly jumped after sources familiar with the matter said the Trump administration is considering green-lighting sales of the company's H200 artificial intelligence chips to China. The stock ended down 1%, still well off of its lows of the session. Nvidia is down 5.9% for the week even though the AI leader late on Wedn...