The S&P 500 Index ($SPX) (SPY) Friday closed up +0.80%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.44%.
Stock indexes on Friday rallied, with the S&P 500 and Nasdaq 100 posting new record highs. Friday’s weaker-than-expected U.S. economic news on Feb ISM manufacturing and the University of Michigan Feb consumer sentiment knocked bond yields lower and bolstered the outlook for Fed rate cuts. Chip stocks rose and led the technology sector higher on optimism over AI demand and lower bond yields.
