After a grueling five-day decline that witnessed a staggering loss of over a trillion dollars in market value, the U.Sstock market finally breathed a sigh of relief on Friday as all major indices posted gainsThis marked a pivotal turnaround after the Standard & Poor's 500 Index and the Nasdaq Composite had endured extended periods of downturn.

By the closing bell on Friday, the S&P 500 had surged 1.26% to settle at 5942.47 points, effectively ending its longest losing streak since April of the previous yearThe Nasdaq climbed even higher, reflecting a 1.77% increase, concluding the day at 19621.68 points, while the Dow Jones Industrial Average rose by 0.8% to reach 42732.13 pointsThe upward trend was particularly notable on candlestick charts, where both the S&P and the Nasdaq formed bullish formations that overwhelmingly eclipsed several bearish candles.

A key event that contributed to the market’s positive momentum was the challenging re-election of Mike Johnson as Speaker of the House of Representatives

Following his confirmation, there was a notable spike in stock prices as investor sentiment soared with expectations of pro-business policies, including regulatory rollbacks, being effectively passed in CongressInvestors were also reassured by the perceived restraint Johnson's steadfast supporters would impose on government deficit control measures.

Aside from the Congressional dynamics, Friday was characterized by a deep intertwining of Wall Street and politicsA significant regulatory decision made headlines that day as the U.Sgovernment blocked the acquisition of U.SSteel by Japan-based Nippon Steel, causing a sharp 6.53% drop in U.SSteel's stock priceReports from Japanese media suggested that Nippon Steel was considering legal action against the U.Sadministration in response to this unprecedented move.

Meanwhile, the alcoholic beverage sector faced a downturn on the same day, spurred by a public health call from the nation’s Surgeon General, urging that cancer warning labels be affixed to alcoholic products

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This move was met with alarm bells in the industry, reflecting the government's increasing attention toward public health initiatives.

On a brighter note, the government issued its final hydrogen energy subsidy policy, which resonated positively within the energy sectorThe policy significantly addressed industry demands by including nuclear power, methane, and traditional state grids under the hydrogen production subsidiesThis announcement led to a surge in stocks related to utilities and hydrogen energy, including major players like Constellation Energy and Vistra Energy, as investors reacted favorably to the expansion of financial support.

When diving into the performance of high-profile tech stocks, Friday proved to be a mixed bagApple, which reported underwhelming sales figures in the Chinese market, fell by 0.2%. However, the rest of the tech giants soared, with Microsoft gaining 1.14%, Amazon climbing by 1.8%, Nvidia jumping by 4.45%, Google’s Class C shares rising 1.31%, and Meta advancing by 0.9%. Notably, Tesla, which had plummeted by 6% the previous day due to disappointing sales figures, rebounded dramatically, ending the day with an impressive leap of 8.22%.

Chinese stocks listed in the U.S

also reflected a bullish trend, with the Nasdaq Gold Dragon Index registering a 0.93% increaseNotable movements among popular Chinese companies included Alibaba rising 0.69%, JD.com advancing 3.24%, and Nio growing by 1.65%. However, Pinduoduo saw a slight dip of 0.07%. With its announcement regarding stock buybacks, Baozun e-commerce rose by 3.61%, while Miniso, which formed a collaboration with the popular game "Black Myth: Wukong," surged by an impressive 9.32%.

Additional noteworthy stories emerged from the marketIn a remarkable blowout, Celsus International saw its shares skyrocket by 143% after announcing an expanded partnership with tech giant NvidiaThis collaboration is set to harness the Nvidia AI Enterprise platform, aiming to significantly enhance the capabilities of Celsus’ proprietary automotive language model, CaLLM, thereby enriching user interactions with intelligent voice technology

This bolstering of innovation is particularly significant, as Celsus reported that over 500 million vehicles globally utilize their cutting-edge AI voice technology.

Furthermore, Microsoft reported plans for an impressive $80 billion investment in building data centers within the fiscal year 2025. This announcement set off a rally in tech stocks on Friday, with Microsoft seeing a 1.14% increase, while Nvidia and AMD observed gains of 4.45% and 3.93%, respectively.

The housing finance sector saw a spike too, with Fannie Mae and Freddie Mac experiencing significant jumps of 29.80% and 28.59%, respectivelyThis rise followed a statement from the U.STreasury, indicating that it was collaborating with the Federal Housing Finance Agency to revise the preferred stock purchase agreement with these two firms, aimed at ensuring a smooth transition as they emerged from federal conservatorship.

Finally, global copyright image giants Getty Images and Shutterstock ended the week on a high note, with Getty gaining 13.27% and Shutterstock rising by 7.88%. Reports surfaced suggesting that discussions of a merger were underway, focusing on how they would structure such a monumental transaction.