Wall Street Rallies Amid Fed Speculation and Global Market Slump

Wall Street rebounded on Friday despite earlier losses, as investors sought bargains amid rising U.S. Treasury yields spurred by hawkish Federal Reserve comments. Global markets, including Asian and European indices, fell due to inflation worries and U.S. interest rate uncertainty. Key sectors like technology showed resilience, with notable gains in AI stocks.

Wall Street closed higher on Friday, emerging victorious over earlier losses, as investors sought bargains in the face of rising U.S. Treasury yields driven by resolute Federal Reserve remarks. Despite global market declines, notably in Asia and Europe, due to inflation concerns and U.S. interest rate uncertainties, the American markets showed resilience.

The Nasdaq and the S&P 500 exhibited gains, pushing past fears over heightened valuations in speculative tech stocks. Market watchers noted that investors appear conditioned to buy during dips, making it a favorable strategy that persisted throughout the year. Tech stocks, particularly Nvidia, led the rally with significant gains.

Investors are gearing up for vital quarterly earnings reports from major companies, including Nvidia, shedding light on consumer and AI market trends. Elsewhere, global indices displayed a downturn, especially in Asian markets, while U.S. Treasuries saw a rise in yields. Meanwhile, oil prices climbed following geopolitically-driven supply concerns in Russia.

(With inputs from agencies.)