Wall Street opened positively on Friday, setting the stage for a potential rebound after recent market fluctuations. The S&P 500 aimed to halt its five-day losing streak, rising 0.4% to 5,891.07 in early trading. Meanwhile, the tech-heavy Nasdaq Composite followed suit, gaining 0.6% to reach 19,395.51, and the 30-stock Dow Jones Industrial Average edged up by 0.25% to 42,392.27.
Among the top performers in early trade were some of the biggest names in the tech industry. Amazon.com Inc. rose 1.1%, NVIDIA Corp. gained 1.3%, and Microsoft Corp. advanced 0.7%, all helping to lift the broader market. However, not all stocks were faring well, with Nike Inc. and McDonald's Corp. both experiencing losses, pulling down certain parts of the market.
Out of the 11 S&P 500 sectoral indices, seven were trading lower compared to the previous day's close. The biggest losses were seen in real estate, down 0.8%, followed by declines in information technology and consumer staples, while sectors such as energy, up 1.2%, healthcare, and utilities experienced gains.
In the commodities market, spot gold traded 0.41% lower at $2,647.09 per ounce, and Brent crude oil saw a slight gain of 0.18%, reaching $76.07 per barrel. The Bloomberg Dollar Index also fell by 0.2%, while major currencies saw mixed movements. The British Pound rose by 0.2%, reaching $1.2409, and the Japanese yen strengthened by 0.3% to 157.07 per dollar.
Among cryptocurrencies, Bitcoin traded down by 0.4%, falling to $96,712.23, as the crypto market showed signs of slowing down after a series of recent gains.
