Wall Street staged a vigorous rebound on Friday, potentially snapping a five-day losing streak, the longest since April, as investors stepped back into the market with renewed optimism.

The major indices all traded in the green, with the Nasdaq 100 leading the charge. Notably, every S&P 500 sector posted gains, underscoring broad-based strength across the market.

On the economic front, the latest ISM Manufacturing PMI exceeded expectations, signaling a healthier-than-anticipated manufacturing sector in December. This marked the second consecutive month of expansion.

Treasury yields edged higher, with the 30-year yield ticking up to 4.80%. Richmond Fed President Thomas Barkin hinted at a hawkish tone during his speech at the Maryland Bankers Association, highlighting the need to keep restrictive monetary policy to counter persistent inflation risks.

In commodities market, crude oil prices climbed over 1%, settling at $73.82 per barrel, marking their sixth consecutive session of gains. In contrast, natural gas prices tumbled nearly 8%, pressured by updated weather forecasts pointing to milder-than-expected winter conditions in the coming weeks and a smaller-than-anticipated storage draw for the week ending Dec. 27.

Bitcoin (CRYPTO: BTC) rose 1% to $98,000, extending its winning streak to four consecutive sessions.

Friday’s Performance In Major U.S. Indices, ETFs

Major Indices	Price	1-day % chg
Nasdaq 100	21,301.47	1.6%
S&P 500	5,935.81	1.1%
Russell 2000	2,254.96	1.0%
Dow Jones	42,610.07	0.5%

According to Benzinga Pro data:

• The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 1.1% to $590.80.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.7% to $426.64.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 1.5% to $517.68.
• The iShares Russell 2000 ETF (NYSE:IWM) soared 1.1% to $223.58.
• The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up 1.5%; the Consumer Staples Select Sector SPDR Fund (NYSE:XLP) lagged, down 0.2%.

Friday’s Stock Movers

• United States Steel Corp. (NYSE:X) tumbled nearly 6% after President Joe Biden vetoed Nippon Steel's proposed acquisition citing national security concerns and potential risks to the domestic supply chain. In response, the two companies released a joint statement pledging to take all necessary action to protect their legal rights.
• Tesla Inc. (NASDAQ:TSLA) gained 4.4% on Friday, partially recovering from Thursday's 6% decline. Despite the uptick, the stock remains poised for its worst weekly performance since early October.
• Carvana Co. (NYSE:CVNA) dropped 7.4% on Friday, extending losses as the fallout from Hindenburg Research’s short report, released on Thursday, continued to pressure the stock.

U.S. automakers experienced significant price actions following the release of fourth-quarter delivery numbers. After Tesla's disappointing results on Thursday, several rivals delivered upbeat reports:

• General Motors Co. (NYSE:GM): Reported a 21% year-over-year increase in U.S. sales for the fourth quarter.
• Ford Motor Co. (NYSE:F): Posted a 9% year-over-year rise in sales for the same period. Ford rose 1.9%.
• Rivian Automotive Inc. (NASDAQ:RIVN) announced it delivered 14,183 vehicles last quarter, surpassing both the 13,972 units delivered a year ago and the Street’s consensus estimate of 13,000. Shares rocketed over 22%.

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