Tech Stocks Rise; Meta Rallies As Court Upholds Tiktok Ban; Bitcoin Roars Above $101,000: What’s Driving Markets Friday?
The S&P 500 and the Nasdaq 100 are set to log their third consecutive week of gains.
The Nasdaq 100, in particular, is tracking its strongest weekly performance in a month, underscoring investor enthusiasm for tech stocks and the growing likelihood of lower interest rates.
Meanwhile, the Dow Jones Industrial Average is on course to finish the week in negative territory, highlighting a divergence in performance among major U.S. indices.
Shares of Meta Platforms Inc. (NASDAQ:META) surged 3% on Wednesday, extending their weekly gain to over 9%, marking the stock’s best week since late January. The rally followed a U.S. appeals court decision upholding the Jan. 19 deadline for TikTok’s parent company, ByteDance, to divest the app over national security and data privacy concerns. TikTok’s appeal was rejected, leaving the U.S. Supreme Court as its final recourse.
The consumer discretionary sector emerged as Friday’s best performer, fueled by further gains in Amazon.com Inc. (NASDAQ:AMZN) and Tesla Inc. (NASDAQ:TSLA).
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