US stocks end sharply higher with assist from tech

The Dow rose 339.86 points, or 0.80%, to 42,732.13, the S&P 500 gained 73.92 points, or 1.26%, to 5,942.47 and the Nasdaq gained 340.88 points, or 1.77%, to 19,621.68.

NEW YORK: US stocks rebounded on Friday as investors neared the end of a holiday-shortened week that also rang in a new year, which brought with it expectations of additional Federal Reserve rate cuts and looser regulatory policies from the incoming administration.

A broad rally sent all three major US stock indices to a higher close, with megacap growth companies, such as Tesla and Nvidia, providing much of the muscle to the upside and putting the tech-heavy Nasdaq out front.