Tech Rally and Rate-Cut Hopes Propel Wall Street to Weekly Gains
Major U.S. stock indexes surged as inflation data fueled optimism for Federal Reserve rate cuts and corporate earnings impressed.
- The S&P 500, Dow Jones, and Nasdaq posted significant weekly gains, with tech stocks leading the charge on Friday.
- Intel's stock soared over 9% following speculation of a potential acquisition, making it the best-performing S&P 500 stock of the day.
- Bitcoin surpassed $100,000 as anticipation grew for crypto-friendly policies under the incoming Trump administration.
- Novo Nordisk and Eli Lilly stocks declined after Medicare price negotiations targeted their popular diabetes and weight-loss drugs.
- The U.S. Supreme Court upheld a law requiring TikTok's divestment, with speculation about potential buyers including Elon Musk and Amazon.
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