S&P 500 Has Its Best Week Since November Election: Markets Wrap
- Intel shares jump after report it’s an acquisition target
- Trump, China’s Xi discuss trade, TikTok ahead of inauguration
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Stocks powered ahead to notch their best week since the November presidential election just ahead of Donald Trump’s inauguration.
Most groups in the S&P 500 rose, with the gauge up 1% on Friday. Nvidia Corp. and Tesla Inc. led gains in megacaps, while Intel Corp. jumped more than 9% after a report the chipmaker is an acquisition target. Also aiding sentiment were headlines that Trump and Chinese President Xi Jinping discussed trade, TikTok and fentanyl, which could set the tone for relations between the world’s two largest economies. Bonds also rebounded this week, with 10-year yields down about 15 basis points in the span.