US stock indexes closed their best week in two months with a flourish on Friday.
The S&P 500 climbed 1 per cent to clinch its first winning week in the last three. The Dow Jones rose 334 points, or 0.8 per cent, and the Nasdaq composite rallied 1.5 per cent. The Australian sharemarket is set to advance on Monday, with futures pointing to a rise of 28 points, or 0.3 per cent, at the open.SLB helped lead the market after the provider of services to oilfields delivered bigger profit and revenue for the end of 2024 than analysts expected. It jumped 6.
Wall Street has been lurching down and up in recent weeks as economic reports pushed traders to revamp their expectations about what the Fed will do with rates. Lower worries about inflation have sent Treasury yields down and stocks up, while worsening worries about inflation have triggered the opposite reaction.
TikTok said on Monday it was restoring its service after President-elect Donald Trump said he would revive the social media app’s access in the US when he returns to power on Monday.
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