Wall Street shrugs off weak data as Big Tech stocks rally

Quick Summary:

A rebound in stocks was driven by significant gains in technology giants Tesla and Nvidia, helping the 'Magnificent Seven' megacaps rise over 1%.

Despite a weak US consumer confidence report causing a brief dip, experts forecast a likely Santa Claus rally this year.

Thin trading marked the holiday-shortened week's start, with volumes down by around 20%.

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Article Details

Author / Journalist: Bloomberg

Category: EconomyBusiness

Markets: IndiaOmanPakistan

Topics: Nvidia US consumer confidence Tesla Wall Street Big Tech stocks

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-24 @ 06:52:31 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 494 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 24620010

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Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

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Year Established: 1838

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