Major U.S. indices finished higher on Friday, with the Dow Jones resetting record highs as investors proved optimistic about economic growth prospects, while major tech companies lagged.
During Friday's regular session, the blue-chip index gained 426.2 points, or 1%, to close at 44,296.5, the S&P 500 rose by 0.4%, ending at 5,969.4, while the Nasdaq Composite edged up 0.2% to close at 19,003.7.
Gains on the Nasdaq were tempered by declines in Nvidia and Alphabet, which fell 3.2% and 1.7%, respectively.
For the week, the Dow advanced approximately 2%, with the S&P 500 and Nasdaq each gaining about 1.7%. This upward momentum comes after last week’s stall in Wall Street's post-election rally.
Additionally, small-cap stocks demonstrated resilience, with the Russell 2000 climbing 1.8% on Friday, closing the week up by around 4.5%.
Friday's performance underscored a broader market trend of shifting investments from technology stocks into economically sensitive sectors.
Despite challenges in the tech sector, Bitcoin approached the symbolic US$100,000 mark, adding to its recent surge.
Ahead in the week, investors will be closely monitoring the FOMC minutes release, the core personal consumption expenditures index, as well as quarterly GDP growth rate data.
On the bond markets, 10-year and 2-year rates were at 4.404% and 4.379%, respectively.
