Wall Street Awaits Tech Giants' Earnings Amid Market Volatility

The Nasdaq rose driven by megacap shares as investors anticipate quarterly earnings from major companies. Tesla surged 22% on strong sales forecasts, boosting market optimism. Key economic data and elections add to market uncertainty. Mega tech earnings and nonfarm payrolls next week to guide investor sentiments further.

The Nasdaq Composite ended the week on a positive note, primarily driven by a rise in major tech stocks, as anticipation built for next week's quarterly results from some of the largest firms on Wall Street.

Tesla shares climbed, following a 22% surge related to optimistic sales forecasts, along with gains in Apple and Microsoft. Nvidia briefly became the world's most valuable company by market capitalization as it too saw an increase. However, the Dow Jones suffered losses due to declines in banking shares and McDonald's grappling with an E. coli scare.

Market volatility continues amid investor caution linked to economic and political factors, including the upcoming U.S. presidential election and expected rate cuts by the Federal Reserve. Analysts are eyeing the reports from leading tech companies and essential economic data in the coming week as pivotal to shaping market trends.

(With inputs from agencies.)