X - US Stocks Rise As Tech Rebounds On Lower Treasury Yields UAW Strikes Widen: What's Driving Markets Friday? | Benzinga
Wall Street is in the green on Friday, showing gains across major U.S. equity indices following significant losses on Thursday. Notably, the technology sector is leading the way, capitalizing on a retreat in Treasury yields.
This positive momentum is occurring despite hawkish comments from Federal Reserve officials earlier in the day.
Federal Reserve Bank of Boston President Susan Collins emphasized that crucial aspects of inflation, such as core services excluding shelter, have yet to demonstrate sustained improvement. Fed board member Michelle Bowman indicated that progress on inflation is likely to be slow under current conditions, hinting at the potential need for even tighter monetary policy.
The UAW has expanded its strikes to 38 locations across 20 states, targeting facilities at General Motors Company (NYSE:GM) and Stellantis N.V. (NYSE:STLA) while excluding Ford Motor Co. (NYSE:F).
Cues From Friday’s Trading
The S&P 500 index rose 0.6%, while the Nasdaq 100 soared 1%. Both blue-chip and small-cap ...