The stock market ended a tumultuous week on a positive note, driven by a favorable inflation reading. On Friday, the Nasdaq composite recovered from session highs and gained 1% to close above its 21-day exponential moving average. Despite a weekly decline of 1.8%, the tech-heavy index showed resilience.
The rally was largely attributed to the benign inflation data, which boosted investor confidence. Tech giants like Nvidia and Tesla led the gains, with Nvidia climbing for a second day after receiving FDA approval. Meta, another top performer, helped drive the rally, while Apple reached new highs.
However, not all experts are optimistic about the market’s prospects. Vanguard expressed concerns that the party may be almost over for US stocks, citing rising interest rates and slowing economic growth. Investors should consider their options carefully, weighing the potential benefits and risks before making any decisions.
In the short term, investors can look to top-performing large-cap stocks like Nvidia, Google, and Meta. Meanwhile, the market will continue to monitor developments in Washington, where a funding bill aims to avert a government shutdown.
Source: https://www.investors.com/market-trend/the-big-picture/dow-jones-stock-market-nasdaq-sp500-santa-claus-rally-novo-nordisk-nvidia