Wall Street Rebounds as Tech Stocks Surge After Five-Day Slump
Markets recover with gains in Big Tech and EV sectors, while concerns linger over inflation, interest rates, and policy shifts under Trump’s return.
- The S&P 500 posted a 1.3% gain on Friday, ending its longest losing streak since April, with the Dow Jones and Nasdaq also advancing.
- Big Tech stocks, led by Nvidia and Tesla, drove the recovery, alongside strong gains in AI-related sectors and automakers like Rivian and Ford.
- Tesla rebounded 8.2% after reporting record sales in China, despite its first-ever annual decline in global deliveries for 2024.
- President Biden blocked a $14.9 billion sale of U.S. Steel to Japan's Nippon Steel, citing national security concerns, causing U.S. Steel shares to drop 6.5%.
- Investors remain cautious about inflation, rising Treasury yields, and potential tariff-driven price increases under President-elect Donald Trump.
The Globe and Mail 
Business Insider 
Los Angeles Times 
Investopedia 
Sherwood News 
Associated Press 
Benzinga 
Markets Insider 
Orlando Sentinel 
Newsweek 
Post and Courier 