Stock market news today: Nasdaq nears best first half of the year

Mega-cap tech stocks helped the market end higher Friday, with stocks ending a remarkably strong first quarter in the face of mounting recession fears and tight central bank policy.

The Nasdaq 100 gained nearly 32% in the first half, nearly breaking its first-half record, set in 1983. The tech sector was propelled by massive enthusiasm for AI that's gripped Wall Street in 2023. In the second quarter, the Nasdaq closed at 13% higher, while the S&P and Dow climbed 8.8% and 2.5%. Core Personal Expenditure Price index data released Friday morning also added to investor confidence, showing that inflation climbed 4.6% from a year ago in May, down from 4.7% in April. On a monthly basis core PCE was up just 0.3%.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Nasdaq jumps 1% as Fed's preferred gauge shows slower inflationMarketWatch Live: Nasdaq jumps as Fed-preferred gauge reflects cooling inflation
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks end higher Friday, Nasdaq scores best first half of a year since 1983U.S. stocks closed higher Friday, ending the month strong and the first half of 2023 with robust gains as a long anticipated economic recession failed to...
Source: MarketWatch - 🏆 3. / 97 Read more »

Apple Stock Closes Above $3 Trillion In Market Value In A Public Company First; Tech Revival Paces Nasdaq’s Biggest First-Half Gain Since 1983Apple became the first publicly traded company to be valued at $3 trillion Friday, leading a tech sector revival that helped the Nasdaq record its best opening half of a year since 1983. The tech-h…
Source: DEADLINE - 🏆 109. / 63 Read more »