US stocks end sharply higher with assist from tech; investors eye Trump policies
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.
Even so, all three indexes posted modest declines for the week, with the S&P 500 logging its third weekly loss in four.
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.
«After the late-in-the-year weakness, and a very oversold market, we finally saw some buyers step in,» said Ryan Detrick, chief market strategist at Carson Group in Omaha. «Obviously the past week-and-a-half has been disappointing for the bulls, but volume has been light and there hasn't been a lot of news.»
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