On Thursday, the stock market extended its recent gains, leading to a rise in stock prices. Traders were also focused on upcoming key inflation data and the latest policy announcement from the Federal Reserve.

The Dow Jones Industrial Average increased by 168.59 points or 0.5%, reaching a closing value of 33,833.61.

The S&P 500 experienced a 0.62% gain, closing at 4,293.93, which marked its highest closing level for the year 2023, CNBC reported.

The Nasdaq Composite showed a notable climb of 1.02%, ending the day at 13,238.52.

The positive sentiment in the tech sector was mainly driven by Amazon, as the company received bullish commentary from analysts.

This led to a 2.5% increase in Amazon’s shares and contributed to a more than 1% climb in the Technology Select Sector SPDR Fund.

Written by staff