Wall Street staged a vigorous rebound on Friday, potentially snapping a five-day losing streak, the longest since April, as investors stepped back into the market with renewed optimism.
The major indices all traded in the green, with the Nasdaq 100 leading the charge. Notably, every S&P 500 sector posted gains, underscoring broad-based strength across the market.
On the economic front, the latest ISM Manufacturing PMI exceeded expectations, signaling a healthier-than-anticipated manufacturing sector in December. This marked the second consecutive month of expansion.
Treasury yields edged higher, with the 30-year yield ticking up to 4.80%. Richmond Fed President Thomas Barkin hinted at a hawkish tone during his speech at the Maryland Bankers Association, highlighting the need to keep restrictive monetary policy to counter persistent inflation risks.
Bitcoin (CRYPTO: BTC) rose 1% to $98,000, extending its winning streak to four consecutive sessions.
Friday’s Performance In Major U.S. Indices, ETFs
According to Benzinga Pro data:
Friday’s Stock Movers
U.S. automakers experienced significant price actions following the release of fourth-quarter delivery numbers. After Tesla's disappointing results on Thursday, several rivals delivered upbeat reports:
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