Stocks Rise on Friday as S&P 500 Looks to Snap Five-Day Losing Streak
U.S. stocks moved higher on Friday as Wall Street tried to shake off a volatile start to the new year.
The S&P 500 rose 0.7%, and the Dow Jones Industrial Average advanced182 points, or 0.4%. The Nasdaq Composite advanced about 1%.
Tech stocks were a bright spot for the market on Friday. Chip giant Nvidia climbed more than 3%, while cyber defense name CrowdStrike added 2.6%. Homebuilder PulteGroup also rose more than 2% to lead the consumer discretionary group.
Friday’s move came off a choppy trading session on Thursday that saw stocks close lower after a morning rally. The S&P 500 and Nasdaq Composite have fallen for five straight trading sessions, their longest losing streak since April of last year.
The recent weakness for equities means that “Santa Claus” rally, in which stocks gain in the final five trading days of one year and the first two of the next, has failed to materialize. However, many Wall Street strategists and portfolio managers are still optimistic about the market in 2025.
Source : CNBC