U.S. equity markets closed higher Friday, extending a late-week rebound led by technology and financials as investors pressed gains into the holiday week amid lingering hopes for interest-rate cuts and strong sector momentum.
The S&P 500 climbed roughly 0.9%, the Nasdaq Composite rose about 1.3%, and the Dow Jones Industrial Average added around 0.4% on broad strength across major cap names. The advances capped a positive week for benchmarks, with the Nasdaq emerging as the leader on tech-sector enthusiasm despite being slightly lower on a longer weekly basis.
Tech giants again anchored the gains, with Nvidia (NVDA) and Broadcom (AVGO) among the top performers as artificial-intelligence–linked stocks regained upside after mid-week volatility. Defensive and consumer sectors lagged, however, following disappointing guidance and earnings from select retail names.
Financial stocks also contributed, with Citigroup (C) outpacing many peers by hitting a new 52-week high after a third straight day of gains. Broader bank peers such as JPMorgan Chase (JPM) and Bank of America (BAC) added to the market’s upward breadth.
Across the Atlantic, European markets marked a festive “Santa Rally”-style advance, with the FTSE 100 approaching record territory despite weak domestic retail sales data. In Asia, Chinese equities cooled in recent sessions on softer economic indicators, underscoring regional divergence amid ongoing global macro uncertainty.
Investors remain attentive to macro cues, including government data on inflation and labor markets that have reinforced expectations for Federal Reserve easing early next year. But thin holiday liquidity and tactical profit-taking could keep price action choppy in the days ahead.
