Global Economy
Wall Street Hits New All‑Time Highs as Jobs Data Fuels Tech Rally
U.S. equity markets closed Friday at fresh record levels, with the S&P 500, Dow Jones and Nasdaq all posting new all‑time highs. The rally was driven by strong gains in semiconductor and artificial‑intelligence stocks after a December jobs report that showed 50,000 jobs added and a dip in the unemployment rate to 4.4%. Home‑building and home‑improvement companies also rallied following President Trump’s announcement of new mortgage‑backed‑security purchases. Over the week, the three major indices each logged solid gains of around 1 %‑1.3 %, underscoring broad investor optimism.
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U.S. equity markets closed Friday at fresh all‑time highs, as investors digested the December jobs report and looked for clues from the Federal Reserve.
S&P 500 rose 0.6% to 7,005.00 points, the Dow Jones Industrial Average gained 0.48% to 49,504.07 points, and the Nasdaq Composite jumped 0.8% to 23,671.35 points, each setting a new record.
Tech and AI lead the rally
The market’s upside was powered by semiconductor and artificial‑intelligence stocks. Notable gains included:
- Broadcom (NASDAQ:AVGO) +3.8%
- Intel (NASDAQ:INTC) +10.8%
- Lam Research (NASDAQ:LRCX) +8.7%
Home‑building sector follows suit
Construction and home‑improvement companies also rose after President Trump announced a new purchase program for mortgage‑backed securities aimed at lowering rates. Gains were seen in:
- D.R. Horton (NYSE:DHI) +7.8%
- PulteGroup (NYSE:PHM) +7.3%
- Lennar (NYSE:LEN) +8.8%
- Home Depot (NYSE:HD) +2.2%
The December jobs report showed 50,000 non‑farm payroll jobs added, below expectations, while the unemployment rate fell to 4.4%, indicating a stable but slowing labor market.
Across the week, the three major indices posted solid gains: the S&P 500 up 1.0%, the Nasdaq up 1.3%, and the Dow up 1.2%.