US sharemarkets closed higher on Friday, rebounding from early declines after US Federal Reserve Chair Jerome Powell said the US economy was “in a good place.” Broadcom gained 8.6% after the chipmaker calmed investor worries about artificial intelligence infrastructure demand with a strong second quarter forecast. Hewlett Packard Enterprise slumped 12% after saying its annual profit forecast would be hit by US tariffs. Costco fell 6.1% after the retailer missed Wall Street estimates on quarterly earnings as merchandise costs increased. The Dow Jones index rose, the S&P 500 index gained and the Nasdaq index added . For the week, the S&P 500 slid, the Nasdaq declined and the Dow fell.
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