Tech Buyers Snub Warnings as Nasdaq Keeps Rallying: Markets Wrap
- The technology-heavy gauge notches best week since November
- US price pressures easing, paving way for smaller Fed hikes
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Wall Street brushed off disappointing outlooks from some of the world’s largest technology companies to push stocks higher on speculation of smaller Federal Reserve hikes as inflation shows signs of easing.
The nascent year’s tech resurgence gave the Nasdaq 100 its best week since November — with Tesla Inc. and Facebook parent Meta Platforms Inc. climbing at least 3% Friday. The gauge also notched its fourth straight weekly advance. That’s even after a bleak forecast from Intel Corp. that followed recent worrisome remarks from Microsoft Corp. and Texas Instruments Inc.