Wall Street Soars Amid Optimism on Trump Policies

Wall Street's main indexes rose significantly on investor optimism about impending policy changes under the Trump administration. Technology stocks led the gains, with notable increases for Nvidia and Broadcom. Banks also outperformed as traders anticipate the Trump presidency's potential pro-growth impacts despite concerns over tariffs and inflation.

Wall Street experienced a notable rise on Friday, fueled by investor optimism over potential policy changes with the incoming Trump administration. The Dow Jones, S&P 500, and Nasdaq all posted substantial gains, marking their largest weekly advances since the U.S. election week.

Gains were led by the technology sector, with Nvidia and Broadcom seeing positive movement following Barclays' price target adjustments. The banking sector followed suit, with heavy hitters reporting better-than-expected earnings, despite looming concerns over tariffs and inflation risks potentially impacting Federal Reserve actions.

Investors are eagerly anticipating President-elect Trump's inauguration, hoping for pro-growth announcements on tax, tariffs, and immigration that could bolster economic prospects. Meanwhile, market trends show mixed reactions with housing and social media sectors experiencing varied results amid broader market optimism.

(With inputs from agencies.)