Wall Street concluded the week on an optimistic note, as all three major indices experienced substantial weekly gains, thanks to the easing of trade tensions between the US and China. On Friday, the S&P 500 increased by 0.7%, achieving its fifth consecutive day of growth. The Nasdaq advanced by 0.4%, while the Dow Jones Industrial Average rose by 331 points, effectively negating previous losses for the year. Earlier in the week, a 90-day pause on tariffs between the US and China improved market sentiment, allowing the S&P 500 to return to positive territory for the year. Nonetheless, the rally was somewhat tempered by weaker consumer sentiment data—highlighted by the University of Michigan’s index dropping to 50.8, the second-lowest on record—and a rise in one-year inflation expectations to 7.3%. The performance of major technology companies was mixed, with Alphabet seeing a 1.2% increase and Meta experiencing a 0.5% decline. Over the week, the S&P 500 saw a 5.3% rise, the Dow increased by 3.4%, and the Nasdaq surged 7%. Technology stocks notably rallied, spearheaded by Nvidia’s impressive 16% increase. Meta saw an 8% rise, Apple increased by 6%, and Microsoft grew by 3%.
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