Wall Street rallied out of its holiday-season funk with the S&P 500 climbing 1.3 percent on Friday, marking its best day in nearly two months and its first gain since Christmas. The Dow Jones Industrial Average rose 0.8 percent, while the Nasdaq composite gained 1.8 percent.
Tech Stocks Lead the Way
Big Tech stocks led the way, with Nvidia and Tesla in particular helping pull the market higher. They offset drops for beer, wine, and liquor companies after the U.S. Surgeon General warned of cancer risks related to alcohol. Treasury yields ticked higher in the bond market following a better-than-feared report on U.S. manufacturing.
Market Performance
The S&P 500 rose 73.92 points, or 1.3 percent, to 5,942.47. The Dow Jones Industrial Average rose 339.86 points, or 0.8 percent, to 42,732.13. The Nasdaq composite rose 340.88 points, or 1.8 percent, to 19,621.68. The Russell 2000 index of smaller companies rose 36.80 points, or 1.6 percent, to 2,268.47.
Weekly and Yearly Performance
For the week:
- The S&P 500 is down 28.37 points, or 0.5 percent.
- The Dow is down 260.08 points, or 0.6 percent.
- The Nasdaq is down 100.35 points, or 0.5 percent.
- The Russell 2000 is up 23.88 points, or 1.1 percent.
For the year:
- The S&P 500 is up 60.84 points, or 1 percent.
- The Dow is up 187.91 points, or 0.4 percent.
- The Nasdaq is up 310.88 points, or 1.6 percent.
- The Russell 2000 is up 38.31 points, or 1.7 percent.
