The New York stock market is on track to close the week in positive territory, as investors evaluate key data, corporate results and possible political changes under the incoming Donald Trump administration.
Wall Street rose sharply on Friday thanks to a rally in technology stocks, as investors analyzed a week of key data, earnings reports and possible policy changes under a Donald Trump administration.
The Dow Jones Industrial Average (^DJI) gains 0.7%, while the S&P 500 (^GSPC) advances 1%, recovering from a previous negative day for the major indices. The tech-heavy Nasdaq Composite (^IXIC) rises more than 1.6%, boosted by shares of Nvidia (NVDA) and Tesla (TSLA)which return to positive ground.
Markets were upbeat considering recent earnings reports from big banks and inflation data, which revived bets on possible interest rate cuts. Stocks are on track to close the week with big gains after a strong rally on Wednesday, while the 10-year Treasury yield (^TNX) fell below 4.6% on Friday.
Wall Street: what the market analyzes
The technology sector was making a comeback, with Apple (AAPL) shares rising slightly after posting its worst loss since August. Chipmakers like Micron (MU) joined Nvidia in the gains, while Coinbase (COIN) was among the cryptocurrency-linked companies that gained ground, as bitcoin (BTC-USD) continued its advance past $100,000. .
Donald Trump markets.jpg
However, concerns also center on possible policy changes on the last trading day before donald trump begins his second term as president. There are fears that his tariff, tax and debt plans — as anticipated Thursday by Treasury nominee Scott Bessent — could stoke inflation. On Monday, the day of the presidential inauguration, markets will be closed for the holiday honoring Martin Luther King Jr.
On the other hand, the economy of China, Trump’s adversary, grew more than expected last year, exceeding Beijing’s 5% target after a series of stimuli. However, stocks in Asia fell on Friday as investors assessed the potential impact of promised tariff rates.
Meanwhile, earnings season continues with reports from banks Citizens Financial Group (CFG) and State Street (STT). Updates on industrial production and housing starts are also expected on the economic agenda.
Source: Ambito
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