A rally in the world’s largest technology companies lifted stocks, with Wall Street also breathing a sigh of relief after the recent economic data did not further erode the case for rate cuts this year, Bloomberg said.
The S&P 500 Index and Nasdaq 100 rose by 1.18% and 1.78%, respectively, as of 12:39 p.m. New York time. The Dow Jones Industrial Average rose by 0.55%.
Brent crude was trading 0.42% lower at $89.43 a barrel. Gold rose 0.08% to $2,334.43 an ounce.
India’s benchmark stock indices ended lower on Friday, snapping a six-day rally, as Bajaj Finance Ltd., Larsen & Toubro Ltd., and ICICI Bank Ltd. dragged. However, the benchmarks on a weekly basis closed higher.
The NSE Nifty 50 settled 150.40 points, or 0.67%, lower at 22,419.95, and the S&P Sensex declined 609.28 points, or 0.82%, to end at 73,730.16.
Overseas investors remained net sellers of Indian equities on Friday for the fifth consecutive session. Foreign portfolio investors offloaded stocks worth Rs 3,408.9 crore and domestic institutional investors stayed net buyers for the fifth day and mopped up equities worth Rs 4,356.8 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed 2 paise weaker against the U.S. dollar at 83.35.
