The US stock market ended the week on a positive note, with the S&P 500 index closing above 5,000 points for the first time at 5,026.58 points. This represents a daily growth of 0.5 percent, while the Dow Jones fell by 0.2 percent and the Nasdaq gained 1.2 percent.

The technology sector played a significant role in driving the index’s rise, with companies such as Google parent Alphabet and chip company Nvidia achieving more than two percent growth. Despite Federal Reserve Chairman Jerome Powell’s statement that interest rates are not expected until at least March, the market remains optimistic about future economic conditions.

Good inflation data and a strong economy are boosting stocks, and analysts predict that the US economy will avoid recession in 2023. Inflation data for December was recently revised to reflect an annual rate of 3.3 percent, with prices rising by an average of 16 percent during the fourth quarter of the year.

During earnings season, over 80% of S&P 500 companies reported results that exceeded analysts’ expectations, providing further support for investors in this growing market. Overall, it seems that stocks will continue to experience steady growth as long as inflation rates remain manageable and interest rates do not rise too quickly.

In conclusion, despite some concerns about rising inflation rates and potential interest rate hikes from the Federal Reserve, overall sentiment in the stock market remains positive due to strong economic conditions and favorable earnings reports from major companies such as Google parent Alphabet and Nvidia.

By Editor

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