By Johann M Cherian and Sukriti Gupta
(Reuters) – Wall Street’s main indexes rose on Friday, with the and the Dow on track to log their biggest weekly gains since November, as investors anticipate a wave of policy changes under the incoming Trump administration.
At 9: 49 a.m. ET, the rose 355.82 points, or 0.82%, to 43,508.16, the S&P 500 gained 52.44 points, or 0.89%, to 5,990.17 and the gained 254.87 points, or 1.30%, to 19,588.75.
Nine of the 11 S&P 500 sectors rose with technology leading gains with a 1.4% increase, bouncing back from the previous session’s declines.
Nvidia (NASDAQ:) gained 2.1% and Broadcom (NASDAQ:) rose 2.2% after Barclays (LON:) raised its price targets on the stocks, sending the chips index up 1.9%.
Intel (NASDAQ:) jumped 8.2% on speculations of a takeover.
Better-than-expected earnings from major banks and signs that inflation is cooling have prompted risk-taking on Wall Street this week, putting the benchmark S&P 500 and the blue-chip Dow on track for their steepest weekly rises since the U.S. election week.
The S&P 500 banking index and regional banks have outperformed the main indexes this week, logging advances of about 6.1% and 7.6%, respectively.
President-elect Donald Trump is expected to take over the White House on Monday and investors will be on edge for any insights into his plans on tax cuts, tariffs, regulations and immigration at his inauguration speech, th