US stocks climbed on Friday as investors analyzed President-elect Donald Trump’s efforts to shape his administration and the implications for economic policy. Despite some volatility in technology shares, major indexes remained on track for weekly gains.
Market Performance: A Positive Close to the Week
The S&P 500 rose 0.2%, while the Dow Jones Industrial Average gained 200 points, or 0.4%. The Nasdaq Composite alternated between positive and negative territory, reflecting ongoing pressure on tech stocks but ultimately showed signs of resilience.
Despite a slow start to the week, the major indexes rebounded and were poised to close with gains exceeding 1%. The post-election rally gained momentum as investors bet on pro-business policies under the Trump administration.
Tech Sector Faces Mixed Reactions
Technology stocks faced continued scrutiny, particularly the “Magnificent Seven” megacap tech firms, including Nvidia and Alphabet. Nvidia, a major player in the AI boom, delivered earnings this week that left some questions unanswered about the sustainability of AI-driven growth. Alphabet remained under pressure as antitrust concerns loomed, with discussions about a potential breakup casting uncertainty over its future.
While tech stocks struggled, the broader market benefited from optimism in other sectors and signs of stability in economic policy expectations.
Trump’s Cabinet Picks Under Watch
Wall Street is keeping a close eye on Trump’s cabinet appointments, especially his upcoming selection for Treasury secretary. The role is critical for shaping economic policy and could have a significant impact on market sentiment.
Meanwhile, Trump announced the nomination of former Florida Attorney General Pam Bondi as US Attorney General after Matt Gaetz withdrew his candidacy. The decisions surrounding these key appointments are being closely monitored for their potential influence on financial and regulatory policies.
US stocks ended the week on a positive trajectory, buoyed by anticipation of pro-business policies under the Trump administration. While uncertainty persists in the tech sector, investors remain optimistic about the broader market outlook as they look ahead to key cabinet announcements and policy developments.
