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Wall Street posts weekly gains on tech and lower oil
The major U.S. stock indices closed significantly higher at the end of the week, supported by a rebound in the technology sector and a decline in oil prices, amid stability in regional tensions in the Middle East. The Nasdaq index reached 27,366.17 points, up by 172.83 points, and the Dow Jones stood at 51,655.18 points, up by 423.54 points. Leading the recovery were the big technology companies, while the price of Brent crude oil slightly dropped to around $103. Despite the positive atmosphere, lower U.S. consumer confidence data tempered the pace of gains. There are concerns about increased competition in the telecommunications sector, as companies like AT&T and Verizon experienced losses following SpaceX's acquisition of wireless spectrum licenses.
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