Wall Street returned to record heights and capped a punishing, two-year round trip dogged by high inflation and worries about a possible recession.
The S&P 500 rallied 1.2% to surpass its prior all-time high set at the start of 2022. It had dropped as much as 25% from that record on worries about much higher interest rates. But inflation has since cooled, the economy has remained out of a recession and the expectation is now for rates to ease.
Tech stocks again helped lead the market, and the Nasdaq composite rose 1.7%. The Dow, which set its own record last month, rose 1.1%.
On Friday:
The S&P 500 rose 58.87 points, or 1.2%, to 4,839.81.
The Dow Jones Industrial Average rose 395.19 points, or 1.1%, to 37,863.80.
The Nasdaq composite rose 255.32 points, or 1.7%, to 15,310.97.
The Russell 2000 index of smaller companies rose 20.74 points, or 1.1%, to 1,944.39.
For the week:
The S&P 500 is up 55.98 points, or 1.2%.
The Dow is up 270.82 points, or 0.7%.
The Nasdaq is up 338.21 points, or 2.3%.
The Russell 2000 is down 6.57 points, or 0.3%.
For the year :
The S&P 500 is up 69.98 points, or 1.5%.
The Dow is up 174.26 points, or 0.5%.
The Nasdaq is up 299.62 points, or 2%.
The Russell 2000 is down 82.68 points, or 4.1%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
