Investors Optimistic as Debt Deal Nears: Stock Market Update
TL;DR
Stocks rose on Friday as investors awaited developments on the debt-ceiling deliberations and digested the latest corporate earnings, while a new wave of AI optimism boosted tech stocks. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite were all up more than 1%. Marvell Technology stock rose more than 25% as the chipmaker joined Nvidia in sharing positive artificial intelligence news. The PCE price index, the Federal Reserve's preferred inflation measure, came in hotter than expected, flipping market expectations for the central bank's next policy announcement on June 14.
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