Tech Stocks Surge Ahead of Fed Meeting with Nasdaq's Largest Weekly Jump of 2024
Tech Stocks Show Resilience
The U.S. stock market witnessed a remarkable surge on Friday, driven by the performance of technology stocks. The technology-heavy Nasdaq Composite posted its largest weekly increase since November, closing approximately 0.7% higher. This remarkable advancement also comes as investors gear up for the Federal Reserve's upcoming policy meeting.
Week in Review
- The Dow Jones Industrial Average increased by 0.7% on Friday.
- The S&P 500 climbed by 0.5%.
- Overall, the Dow gained 2.6% for the week.
- The S&P 500 rose by 4% throughout the same period.
- Key highlights show that the Nasdaq achieved a notable 6% jump for the week.
Investors are eager to see how the Federal Reserve will approach interest rates during the two-day policy meeting next week, concluding on Wednesday. Decisions made here could potentially influence tech sector dynamics significantly.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.