the $3 trillion mark for the first time since January 2022, and was last up 1.76% at $192.90 after touching a record high of $193.15. Its shares were lifted by growing appetite for growth stocks generally as well as bets the iPhone maker will succeed in new markets.
Investors perked up on signs of cooling U.S. inflation from measures that are closely watched by the Federal Reserve. A Commerce Department reportthe Personal Consumption Expenditures index advanced 3.8% versus April's 4.3%. Excluding volatile food and energy, the core PCE index gained 0.3%, down from 0.4% in the previous month.
"Today is another example of how markets love any slowing of inflationary pressure. We had inflation come in increments lower," said Matt Miskin, co-chief investment strategist, John Hancock Investment Management in Boston. "Technology stocks are leading the way on the upside which isn't anything new but the thought of disinflation, potentially continuing here into the summer months is helping market finish the quarter strong."