Major stock indexes ended the day higher, with tech shares continuing to recover from a grim start to 2024. The S&P 500 is within 1% of its record high set just over two years ago.
Stock indexes climbed. The S&P 500, Dow industrials and Nasdaq all finished in the green. After declining in the first week of the year, indexes have this week regained their footing.
Meta shares jumped. The Facebook parent traded 3.7% higher. Mizuho put out a bullish forecast for the company, raising its price target to $470 a share— about $100 above Wednesday’s close.
Microsoft is closing in on Apple for the title of the most valuable U.S. company.
Treasury yields edged up. The yield on the 10-year note settled at 4.029%, after earlier dipping below 4%.
Overseas stocks were mixed. Japan’s Nikkei 225 climbed 2% to its highest level since 1990.
To watch in the coming days:
Earnings season kicks off in earnest this week. Major companies including JPMorgan Chase and Bank of America are set to report Friday.
U.S. inflation data is up ahead, with December consumer-price data due Thursday, followed by producer prices Friday.
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