The S&P 500 finishes over 5100 for the first time, while the Nasdaq soars more than 1% to break the record
Friday saw the Nasdaq Composite reach a record high, breaking its own high set in 2021 as investors wagered that investing in megacap technology businesses was the best way to take advantage of both the impending growth in artificial intelligence and reducing inflation. The tech-heavy Nasdaq gained 1.14% to 16,274.94, reaching a new session high of 16,302.24. The index closed at its first record level yesterday, November 2021. For its first closing above the 5,100 barrier, the S&P 500 gained 0.80% to close at 5,137.08. The Dow Jones Industrial Average increased to 39,087.38 (up 90.99 points, or 0.23%).
The computing giant Nvidia, which has surged more than 260% in the previous 12 months, led the tech rally and was up 4% on Friday. Meta had a daily increase of over 2% as well. Weekl...
