On a Friday marked by triple-witching, US stocks experienced an upswing. The S&P 500 increased by 0.5%, the Nasdaq rose by 0.7%, and the Dow Jones climbed approximately 210 points. This continued the previous session's upward trend, driven significantly by a standout performance in technology stocks. The AI-related market demonstrated signs of recovery, particularly with Oracle leading the way. Its shares surged over 6% following news that TikTok will sell its US operations to a new joint venture that includes Oracle and the private equity firm Silver Lake. Similarly, Micron Technology witnessed a 5.5% increase, building on a 10% rise the day before.
Conversely, Nike's stock plummeted 10% due to lower revenue figures from China and the impact of increased tariffs on gross margins. FedEx also saw a decline of over 2% after delivering quarterly results that fell short of investor expectations. Overall, investor sentiment remained largely optimistic, buoyed by anticipations that the Federal Reserve will have opportunities to further cut interest rates in the upcoming year.
For the current week, the S&P 500 has achieved a 0.8% rise, the Dow Jones has gained 1%, while the Nasdaq has decreased by 0.8%.
