Wall Street Rises as Tech Stocks Rebound, Trump Policies Loom

Wall Street's main indexes moved higher on Friday as technology stocks rebounded from a losing streak, while investors geared up for potential policy shifts under the incoming Trump administration. At 10:05 a.m. ET, the Dow Jones Industrial Average (.DJI), rose 181.31 points, or 0.43%, to 42,569.94, the S&P 500 (.SPX), gained 47.44 points, or 0.81%, to 5,915.99 and the Nasdaq Composite (.IXIC), gained 236.31 points, or 1.24%, to 19,519.58.

All 11 S&P 500 sectors were trading in positive territory, with the information technology sector (.SPLRCT), bouncing back 1.3% after falling for the past four sessions. Nvidia (NVDA.O), was driving gains on all three major indexes. Wall Street had a dour start to the new year, with the S&P 500 and Nasdaq erasing early gains to close lower for a fifth straight session on Thursday, bucking a historical trend where markets rally in the last five sessions of December and the first two sessions of January.Analysts have highlighted uncertainty surrounding the policies that President-elect Donald Trump's administration might roll out, especially with his Republican party holding sway over Congress. The newly elected Congress will begin its first session, on Friday, with Trump set to take the oath of office on Jan. 20. Trump's proposals, ranging from slashing corporate taxes and easing regulations to imposing tariffs and curbing illegal immigration, could boost corporate profits and energize the economy. However, they also pose certain risks'The main issue people will start focusing on is, if his (Trump's) decisions will be inflationary and if they are, does that signal that the Fed will do an abrupt course change and start raising rates.' said Peter Andersen, founder of Andersen Capital Management. Traders now expect the Federal Reserve to lower rates by about 50 basis points this year, per the CME Group's FedWatch Too

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