BENGALURU:
US inventory indexes hovered close to all-time highs in skinny post-Christmas buying and selling on Friday, supported by indicators of a resilient financial system and renewed investor curiosity in AI-related corporations.
The benchmark S&P 500 hit an intraday report excessive earlier than pulling again barely, whereas the blue-chip Dow Jones Industrial Common was about 0.5% from its December 12 peak.
US shares rebounded after final week’s selloff, when AI and expertise shares confronted strain from issues over lofty valuations and excessive capital expenditures denting earnings.
Nonetheless, resilient financial knowledge, the prospect of additional coverage easing underneath a brand new Federal Reserve chair subsequent 12 months and recent urge for food for AI shares fuelled a market restoration, placing the S&P 500, Dow and Nasdaq on observe for a 3rd straight 12 months of positive aspects.
Analysts anticipate revenue for S&P 500 corporations to extend 15.5% in 2026, an enchancment from a 13.2% development forecast for 2025, in response to knowledge compiled by LSEG.
Merchants are ready to see if the “Santa Claus rally” – a seasonal phenomenon the place the S&P 500 posts positive aspects within the final 5 buying and selling days of the 12 months and the primary two in January, in response to Inventory Dealer’s Almanac – can occur this time. That interval started on Wednesday and can run by way of January 5.
At 11:42 am ET, the Dow Jones Industrial Common fell 65.06 factors, or 0.13%, to 48,666.10. The S&P 500 misplaced 0.48 factors, or 0.01%, to six,931.57, whereas the Nasdaq Composite gained 12.11 factors, or 0.05%, to 23,625.41.
Nvidia climbed 1.4% after the AI chip designer agreed to license chip expertise from startup Groq and rent its CEO.
