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US equities closed higher on Friday, with the S&P 500 reaching a record high. The tech sector, led by semiconductor shares like Nvidia, surged after Taiwan Semiconductor Manufacturing Corp.’s strong gains. The Dow set a record, lifted by Travelers’ positive earnings. The University of Michigan’s Survey of Consumers hit its highest level since July 2021. Investors returned to tech, pushing the S&P 500 to new highs amid reduced Fed rate-cut expectations. Semiconductors and regional banks gained, while consumer staples and utilities lagged. Weekly, the S&P 500 rose 1.2%, the Dow 0.7%, and the Nasdaq 2.3%. Elsewhere, European shares closed slightly lower on Friday with losses led by luxury brands LVMH and Hermes, along with industrial giants Mercedes, Volkswagen, and Airbus, resulting in a 0.7% drop for the week. ASML, however, added 1.5% following strong results from TSMC.
Summary for 22.01.2024
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