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s and p 500 rebounds as tech stocks drive market recovery

The S&P 500 is on track for its first gain since Christmas, rising 1.1% in afternoon trading, driven by Nvidia's 4.5% increase. Despite a recent pullback, concerns about inflation and high stock prices persist, while U.S. Steel fell 5.6% after a blocked acquisition. Global markets reacted variably, with South Korea's Kospi gaining 1.8% amid political instability.

s and p 500 posts first gain since christmas led by big tech stocks

Wall Street rebounded on Friday, with the S&P 500 rising 1.3% for its first gain since Christmas, driven by strong performances from Big Tech stocks like Nvidia and Tesla. The Dow Jones gained 339 points, while the Nasdaq jumped 1.8%. However, U.S. Steel fell 6.5% after a blocked acquisition, and alcohol companies dropped following health warnings about cancer risks associated with consumption.

s and p 500 rebounds as tech stocks drive market recovery

The S&P 500 is on track for its first gain since Christmas, rising 1.1% in afternoon trading, while the Dow Jones increased by 258 points. Nvidia led the rally with a 4.5% rise, despite concerns over high tech stock prices, while Tesla rebounded 5% after a previous drop. However, U.S. Steel fell 5.6% following a blocked acquisition, and alcohol stocks declined after health warnings linked consumption to cancer risks.

stock market update chip stocks retail sales and corporate earnings insights

Broadcom's stock continued to rally, while Nvidia faced further declines, entering correction territory. Advanced Micro Devices is projected to miss revenue targets, raising concerns, as the Dow is set for a down open after eight consecutive sessions of losses. Retail sales exceeded expectations, and the Federal Reserve is anticipated to cut interest rates again, with key inflation data due later this week.

Jim Cramer Remains Cautious on Alcohol Stocks Amid Industry Challenges

Jim Cramer remains cautious about alcohol stocks, expressing concerns over long-term challenges such as changing consumer behaviors and the impact of weight loss medications on alcohol consumption. While he acknowledges some recent positive developments, including better-than-expected earnings from Brown-Forman and upgrades for several companies, he prefers to stay on the sidelines until he sees a shift in drinking trends among younger consumers.
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