Tech titans spark a fresh Wall Street rally

The day on Wall Street didn't begin with cheers. Doubts hovered in the air as the opening bell rang. Yet, by market close, a different tune played—one that echoed optimism, with tech stocks driving record highs once again.

Big earnings news from Alphabet and Nvidia captured everyone’s attention. Their upbeat results didn’t just please investors; they set the pace for the whole market. Mark Malek, Chief Investment Officer at Siebert Financial, summed up the mood: “Investors are anticipating impressive outcomes from all but Apple among the remaining Magnificent Seven. This could overshadow everything else we’ll be observing next week”.

The magnificent seven: Leading the charge

The spotlight shone brightest on the so-called “Magnificent Seven”—Apple, Microsoft, Alphabet, Amazon, Meta, Nvidia, and Tesla. These household names didn’t just outperform; they dominated. Nvidia gained over 4% during the week, pushing its market value past $4 trillion, while Amazon and Tesla each racked up 4% weekly gains. The S&P 500 and Nasdaq both sailed to new record highs for the fourth day running, fuelled by these tech titans.

A telling example? If you’d invested £10,000 across these seven stocks at the start of 2025, your return would have beaten the wider S&P 500 index, simply because the gains have been so concentrated at the very top this year.

But the mood wasn’t all unbridled celebration. Over on the Dow, blue-chip stalwarts faced a bumpier ride. IBM tumbled 7.6% after an earnings-led sell-off, and Honeywell and UnitedHealth also dipped. Yet, even the Dow managed a modest weekly gain—proof that Wall Street, though uneven, still finds its feet on shifting ground.

Politics, rate pressures, and the mood ahead

Amid the market drama, politics tiptoed into the picture. President Trump made headlines with his visit to the Federal Reserve’s renovation—a symbolic gesture, paired with softer rhetoric towards Chair Jerome Powell. Still, Trump’s message rang clear: “I would love for him to reduce rates,” he said, while signalling he wouldn’t seek a leadership change “at least for now”.

Expert voices suggest markets are tuning out political noise for the time being. Nancy Tengler, CEO at Laffer Tengler Investments, commented, “AI-powered growth is the real story, and investors are keeping their eyes firmly on that prize”.

Trade tensions and global uncertainty, it seems, barely made a dent. Instead, analysts now predict the next wave of quarterly results from the tech cohort will account for nearly half the S&P 500’s earnings growth—a powerful endorsement of how these companies shape American stocks and, by extension, investors and pension funds worldwide.

So, with tech at the helm and rate watchers on alert, Wall Street rides into the coming week flush with optimism. The narrative is clear: when innovation and earnings align, even in a world filled with political noise and sector churn, the market finds its way forward.

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies, and not of Winvesta. We advise investors to check with certified experts before making any investment decisions.

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