US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs.
Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple countries.
Gilead Sciences and Monster Beverage rallied over 6% after robust results, while Expedia surged 4% on an improved outlook. Tesla gained 2.3% despite disbanding its Dojo team, and Intel rose 0.9% after its CEO confirmed board support despite Trump's call for his resignation. For the week, the S&P 500 climbed 2.5%, the Dow rose 1.5%, and the Nasdaq surged 3.9%.
Source: Trading Economi
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