Wall Street Ends The Week on a Positive Note
Stocks in the US closed higher on Friday, with the S&P 500 up 0.3% and the Dow gaining 426 points. Meanwhile, the Nasdaq only added 0.1%, weighed down by declines in major tech stocks like Nvidia and Alphabet.
Mega cap stocks faced mixed performance, with Tesla gaining 3.8%, while Meta and Amazon saw modest losses, falling 0.7% and 0.6%, respectively. Investor rotation from technology into economically sensitive sectors like financials, industrials, and consumer discretionary supported broader market gains.
Additionally, Wall Street awaits the announcement of Trump's Treasury secretary pick, a decision that could influence market sentiment. Additionally, former Florida Attorney General Pam Bondi has been selected as U.S. attorney general, following Matt Gaetz's withdrawal from consideration. For the week, all three major indices booked gains to end a volatile week, with the S&P 500 and Nasdaq up 1.7% each, while the Dow rose by 2.1%.
Source : Trading Economics