Wall Street ends sharply higher with assist from tech; investors eye Trump policies
NEW YORK (Reuters) -U.S. stocks rebounded on Friday as investors neared the end of a holiday-shortened week that also rang in a new year, which brought with it expectations of additional Federal Reserve rate cuts and looser regulatory policies from the incoming administration. A broad rally sent all three major U.S. stock indexes to a higher close, with megacap growth companies, such as Tesla and Nvidia, providing much of the muscle to the upside and putting the tech-heavy Nasdaq out front. A multi-session selloff put a dour cap on what was a banner year for the equities market, as continued momentum of artificial intelligence technology and the U.S. Federal Reserve's first policy rate cuts in three-and-a-half years helped fuel double-digit gains in 2024.
