Wall Street managed to finish higher this week despite Thursday's brutal rotation out of tech stocks. The Dow Jones Industrial Average was the big winner on the week — advancing nearly 1.6% as favorable inflation data prompted investors to scoop up economic- and rate-sensitive stocks that have not done as well this year. The S & P 500 and Nasdaq saw weekly gains of almost 1% and 0.25%, respectively. All three stock measures closed around record highs.
Ted Pick, CEO Morgan Stanley, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.Wall Street managed to finish higher this week despite Thursday's brutal rotation out of tech stocks.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: