Stock Market Rallies as Tech Shares Recover
The Dow Jones Industrial Average surged 2.47%, or 1,206.95 points, closing at 50,115.67. Meanwhile, the Nasdaq jumped 2.18%, or 490.63 points, reaching 23,031.21, and the S&P 500 rose 1.97%, or 133.9 points, ending at 6,932.30.
The Volatility Index (VIX), often referred to as the "fear index,” experienced a sharp decline of 18.42%, landing at 17.76 points.
Following a week largely marked by selling pressure in the technology sector, the market rebounded on the final trading day. Investors appeared encouraged by renewed optimism in tech stocks.
Earlier in the week, apprehensions over the effects of AI-related expenditures on corporate earnings, along with indications of a slowing US labor market, had dampened market risk appetite.
Throughout the week, corporate earnings reports were closely scrutinized, with investors particularly attentive to how AI-driven spending influenced company balance sheets.
Shares of Amazon, the US e-commerce titan, fell significantly after the company reported fourth-quarter net sales that surpassed expectations, but profits that disappointed analysts. Additionally, Amazon raised its projected spending for 2026 to $200 billion.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
