Stock Market Indexes Soar in First Half 2023, Nasdaq Leads with 31% Rally

The major stock market indexes closed strong for the first half of 2023, with the Nasdaq leading the way with a 31.7% gain, its best first half since 1983. The S&P 500 posted a 16% gain, while the Dow Jones lagged with a modest 3.9% increase. Inflation data came out mostly in line with expectations, providing support for the market. Big Tech stocks saw strength, pushing the Nasdaq higher. Nike dragged down the Dow Jones with worse-than-expected earnings. Carnival and Royal Caribbean Group surged after positive analyst upgrades, while Nvidia and XPeng also saw gains.