The S&P 500 surges to a record high as hopes about the economy — and Big Tech — grow
11 months ago

The S&P 500 surges to a record high as hopes about the economy — and Big Tech — grow

NPR  

The S&P 500 surges to a record high as hopes about the economy — and Big Tech — grow Enlarge this image toggle caption Michael M. Santiago/Getty Images Michael M. Santiago/Getty Images The S&P 500 set a fresh record on Friday as shares of big tech companies rallied and as hopes about the economy continue to grow. The index, a broad-based group of stocks that includes many of the world's biggest and best-known companies, ended the day up 1.2%, to close at 4,839.81, surpassing a record it previously set in January 2022. The S&P 500 ended 2023 up by 24%, surprising many investors who started last year fearing the Federal Reserve's aggressive campaign to fight high inflation would kickstart a recession. Sponsor Message Instead inflation has eased and the economy has proven much sturdier than expected, and Wall Street now expects the Fed will start cutting interest rates this year, even if there is still a lot of uncertainty about how soon that will happen.

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