08.08.202520:02:50UTC+00US Stocks Gain on Tech Rally and Monetary Policy Bets

On Friday, U.S. stocks posted gains, with the S&P 500 advancing 0.8%, the Nasdaq rising nearly 1%, and the Dow Jones Industrial Average increasing by 206 points. The tech sector, spearheaded by Apple, which climbed 4.2% after unveiling its ambitious $600 billion U.S. investment initiative, propelled the Nasdaq to fresh intraday record levels. Investors were buoyed by expectations of potential interest rate cuts from the Federal Reserve, as President Trump proposed Stephen Miran for the Fed Board, suggesting potential shifts in monetary policy. This came in the context of new tariffs imposed by the Trump administration on imports from various nations, which remain a point of concern. Gilead Sciences and Monster Beverage experienced rallies, soaring over 6% following strong earnings reports, while Expedia jumped 4% due to an improved outlook. Tesla gained 2.3% despite the dissolution of its Dojo team, and Intel saw a 0.9% rise, with its CEO receiving board backing in the wake of President Trump’s resignation demand. Over the week, the S&P 500 increased by 2.5%, the Dow was up 1.5%, and the Nasdaq surged by 3.9%.