(Bloomberg) — A rally in big tech sent US stocks higher at the start of a week that will bring key inflation data and bank earnings.
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The Nasdaq 100 outperformed, with Nvidia Corp. surging after announcing new products to help the personal computer industry lure consumers with artificial-intelligence PCs. Boeing Co. sank as its 737 Max 9 model was temporarily grounded by authorities. Treasury yields fell alongside the dollar. Oil slid to around $70.
Equities rebounded after mixed US economic data capped a week that saw equities sink the most since October on bets the Federal Reserve was in no rush to cut rates.
“The valuation-led year-end rally pulled potential gains from 2024 into 2023, making this a tricky year to prognosticate — especially as data are becoming more mixed and futures markets show that Fed rate cuts are already factored in,” said Robert Teeter, managing director of Silvercrest Asset…
