Wall Street ends higher this Friday
Wall Street's main indices closed higher this Friday, recovering some of the ground lost earlier in the week. Investors refocused on technology megacaps, which had been responsible for significant sales.
Five members of the group known as the “Magnificent Seven” had a positive performance this Friday, with emphasis on Meta, which rose 2.7%. The exceptions were Tesla and Alphabet, whose lower-than-expected results triggered a major market sell-off on Wednesday.
Greg Boutle, head of US equity and derivatives strategy at BNP Paribas, said: “What we get next week from Apple, Microsoft, Amazon.com and Meta will really set the tone for this rotation to continue and, directionally, where the market will go.”
This Friday, all 11 S&P sectors closed higher, with industrial and materials recording the best performances.
The S&P 500 advanced 1.11%, to 5,459.10 points. The Nasdaq technology index rose 1.03% to 17,357.88 points. The Dow Jones rose 1.64%, to 40,589.34 points.
Source: Reuters