Stocks rose in morning trading on Wall Street Friday, keeping the market on track for its sixth winning week in the last seven. The S&P 500 rose 0.4%, adding to the record it set on Thursday. The Dow Jones Industrial Average rose 198 points, or 0.5%, to 39,266. The Nasdaq rose 0.1%. Technology stocks led the gains again, including another drive upward from Nvidia. The chipmaker rose 2.7% and crossed $2 trillion in market value for the first time. A day earlier, Nvidia reported blockbuster demand for its semiconductors, which are used to power AI applications.
Quick Read
- Wall Street experienced gains in morning trading, with the S&P 500 rising by 0.4%, the Dow Jones by 0.5%, and the Nasdaq by 0.1%.
- Technology stocks, particularly Nvidia, drove the market’s upward trend, with Nvidia’s market value surpassing $2 trillion due to high demand for its AI semiconductors.
- Positive earnings reports boosted stocks like Live Nation and Sleep Number, while Warner Bros. Discovery and Booking.com faced declines due to less favorable financial outcomes.
- Intuitive Machines saw a significant increase following its successful lunar landing, marking a historic moment for U.S. space exploration.
- Treasury yields saw a slight decrease, with the 10-year Treasury yield dropping to 4.30%.
- Global markets showed mostly positive trends, with European and Asian markets trading higher, despite Tokyo’s market closure for a holiday.
The Associated Press has the story:
Wall Street gains ground and is on track for another winning week
Newslooks- NEW YORK (AP) —
Stocks rose in morning trading on Wall Street Friday, keeping the market on track for its sixth winning week in the last seven.
The S&P 500 rose 0.4%, adding to the record it set on Thursday. The Dow Jones Industrial Average rose 198 points, or 0.5%, to 39,266. The Nasdaq rose 0.1%.
Technology stocks led the gains again, including another drive upward from Nvidia. The chipmaker rose 2.7% and crossed $2 trillion in market value for the first time. A day earlier, Nvidia reported blockbuster demand for its semiconductors, which are used to power AI applications.
Earnings remained the big focus. Ticket seller and concert promoter Live Nation jumped 4.2% after beating analyst’s revenue forecasts. Sleep Number, which sells beds and bedding products, surged 38% after beating beat Wall Street’s revenue forecasts.
On the losing end, Warner Bros. Discovery fell 12.6% after reporting a bigger loss than Wall Street expected.
Booking.com tumbled 8.7%, dragging other travel-related companies down. The online travel service beat Wall Street’s fourth-quarter sales and profit targets but issued a lukewarm forecast that spooked investors.
Outside of earnings, Intuitive Machines, the company that made the first U.S. lunar landing in more than 50 years, rose 18.4%.
Treasury yields slipped. The yield on the 10-year Treasury fell to 4.30% from 4.33% late Thursday.
Markets were mostly higher in Europe and Asia. Tokyo’s markets were closed for a holiday, a day after they surged to an all-time high.
