The S&P 500 rebounded on Friday, ending a five-day losing streak, with gains in technology and electric vehicle sectors. Investor confidence is renewed despite ongoing economic uncertainties and persistent inflation.
Wall Street rebounded on Friday, with the S&P 500 posting its first gain since Christmas Eve, potentially breaking a five-day losing streak, its longest since April.The index rose 0.6 percent in morning trading as the Dow Jones Industrial Average increased by 153 points (0.4 percent) and the Nasdaq Composite gained 0.9 percent. This rebound indicates renewed investor confidence following a period of market volatility. Californian tech firm Nvidia's performance (a 3.
9 percent climb) shows a sustained interest in artificial intelligence technologies, despite concerns regarding overly high valuations.Tesla's partial recovery (up 1.6 percent after a previous drop) suggests resilience in the electric vehicle sector, even amid delivery shortfalls. However, declines in industrial and consumer sectors highlight ongoing economic uncertainties ahead of President-elect Donald Trump's impending inauguration. While there has been a slight downturn in the stock market recently, this is minor compared to the significant gains the market experienced over the last two years. During this period, the U.S. economy grew despite high interest rates and a concerted effort by the Federal Reserve to reduce inflation, which is nearing its target of 2 percent.Elsewhere, Rivian's 16.1 percent surge followed its announcement about delivering over 14,000 vehicles in the same period, surpassing analyst expectations by some margin. The recent record highs in the S&P 500 were partly driven by optimism that the Federal Reserve would continue cutting interest rates through 2025, making borrowing cheaper and encouraging economic activity. However, this optimism has waned as inflation proves more persistent, making future rate cuts less likely. Inflation remains challenging to fully control. Despite progress, the Fed still needs to address the last percentage points to hit its targe
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