Wall Street hits one-week high on optimism about AI, less aggressive tariff stance

From Investing.com: 2025-01-06 12:35:46

Wall Street indexes hit one-week highs on Monday as optimism around AI boosted semiconductor stocks and reports suggested a less aggressive tariff stance from the incoming Trump administration. The Dow rose 353.08 points, the S&P gained 74.43 points, and the Nasdaq climbed 343.99 points. Automakers like Ford and GM rose on tariff speculation. Small-cap index rose 0.9%. Tech stocks led gains, with chipmakers like Nvidia and AMD rising on AI investments and revenue forecasts. U.S. stocks rebounded Friday after December losses. Investors await Fed speeches and economic data for clues on monetary policy. Trump’s policies could boost profits but also inflation risks. Citigroup rose 3.8% on bullish rating. Markets closed Thursday for former President Jimmy Carter’s national day of mourning. NYSE advancing issues outnumbered decliners 1.84-1, with S&P posting 8 new highs. Nasdaq recorded 86 new highs.



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