#YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto
To get the latest market news, check out finance.yahoo.com
US stocks jumped on Friday amid a tech stock revival as investors assessed a week of key data and earnings reports alongside potential policy shifts under a Trump administration.
The Dow Jones Industrial Average (^DJI) gained 0.8% while the S&P 500 (^GSPC) rose 1%, coming off a losing day for the major gauges. The tech-heavy Nasdaq Composite (^IXIC) put on 1.5% as Nvidia (NVDA) and Tesla (TSLA) shares nudged back into the green.
Markets have turned upbeat as investors take stock of recent days’ big bank earnings and inflation readings, which have resuscitated bets on interest-rate cuts. Stocks posted big weekly wins after a major rally on Wednesday, while the 10-year Treasury yield (^TNX) pulled back to trade around 4.6% on Friday.
The Dow finished up 3.7 for the week. The S&P recorded a 2.9% gain, while the Nasdaq closed 2.4% ahead of last week.
Housing starts climbed faster than forecast in December, and US industrial production outstripped estimates. The data out Friday added to a picture of strength in the US economy, buoying rate optimism.
Meanwhile, techs were staging a comeback, with Apple (AAPL) stock up 0.7% in afternoon trading after booking its worst loss since August. Chipmakers such as Micron (MU) joined Nvidia in making gains, while Coinbase (COIN) was among crypto-linked names getting a boost as bitcoin (BTC-USD) continued its advance above $100,000.
Minds are also on potential policy upheaval on the last day of trading before Donald Trump begins his second term as president. Fears are that his plans for tariffs, taxes, and debt — as aired by Treasury pick Scott Bessent on Thursday — could inflame inflation. Inauguration day is Monday, when markets will be closed to mark the Martin Luther King Jr. holiday.
China’s economy, an adversary for Trump, grew more than expected last year, topping Beijing’s 5% target after a stimulus blitz. But Asia stocks lost ground on Friday as investors weigh the potential hit from promised hefty tariffs.
