Stocks advanced broadly Friday, paced by big technology shares, with a boost from falling market interest rates. The Dow firmed 0.4 percent while the S&P 500 gained 0.6 percent and the Nasdaq was up 0.8 percent. US Treasury yields, the dollar and oil prices all declined.

Equity market sentiment was bolstered by some easing in worries about Trump's tariff threats after reports that Trump and Mexico's president had held a more productive exchange on the topic. Trading was limited on Friday in a holiday-shortened session with no US data releases or Federal Reserve speakers. Retailers had a good day amid positive reports about the start of holiday sales, with Amazon leading consumer discretionary higher.

Microsoft and Apple were among the day's heavyweight winners along with Nvidia, the AI chip bellwether.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.