World · Singapore Bureau
Nasdaq rallies but ends fourth consecutive week in red
The Nasdaq Composite index staged an intraday recovery, gaining 1.09 per cent to close at 24,579.43 points. However, the rebound was insufficient to reverse the index's fourth consecutive weekly decline.
LSN Singapore ·
The technology-heavy Nasdaq Composite index posted gains during Friday's trading session, with the benchmark climbing more than a percentage point by the closing bell. The index's advance to 24,579.43 points reflected renewed buying interest after recent market weakness, though traders remained cautious about broader economic headwinds.
Despite the single-day recovery, the index's momentum remained constrained by mounting losses throughout the week. The fourth successive weekly decline underscores persistent investor concerns about valuation pressures in the technology sector and macroeconomic uncertainty.
The intraday strength suggests some stabilisation in market sentiment, though analysts note that sustained recovery would require confirmation through broader market participation and improved economic data. Investors continue to monitor inflation trends and interest rate expectations, which have weighed heavily on growth-oriented equities in recent sessions.
Market participants will be watching for upcoming economic indicators and corporate earnings reports that could provide fresh direction for equity indices in coming weeks.