What happened Shares of Nvidia (NASDAQ: NVDA), Advanced Micro Devices (NASDAQ: AMD), and Skyworks Solutions (NASDAQ: SWKS) were all up big on Friday, rising 4.1%, 5.5%, and 4%, respectively, as of 1:54 p.m. EDT. This morning, the Employment Cost Index released by the Bureau of Labor Statistics showed a slowing of private-sector wage growth, which was taken well by the markets. After all, these stocks began to decline even while earnings were good earlier this year, in anticipation of a downturn brought on by inflation and the Fed's interest rate hikes.