The US stock market experienced a significant surge on Friday, driven by a resurgence in tech stocks. Investors were busy analyzing a week filled with crucial data and earnings reports while keeping an eye on potential policy changes expected under the Trump administration.
The Dow Jones Industrial Average (^DJI) saw a 1.1% increase, with the S&P 500 (^GSPC) also rising by 1.2%, rebounding from previous losses. The Nasdaq Composite (^IXIC), known for its tech focus, surged over 1.7%, thanks to gains in Nvidia (NVDA) and Tesla (TSLA) shares.
Investor sentiment has turned positive following strong performances in bank earnings and inflation data, reigniting hopes for interest rate cuts. Stocks are poised for significant weekly gains after a major rally earlier in the week, while the 10-year Treasury yield (^TNX) retreated to around 4.6% on Friday.
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In December, housing starts exceeded expectations, and US industrial production surpassed estimates as well. This positive data release on Friday…
2025-01-17 09:31:05
Article sourced from finance.yahoo.com