Stocks rose on Friday, with technology stocks leading the charge, as Wall Street looked to cap off a strong first half on a positive note. The latest inflation data also showed continued signs of cooling.
The Dow Jones Industrials shot higher 214.08 points to break for lunch hour at 34,336.30.
The S&P 500 gained 44.74 points, or 1%, to 4,441.19.
The NASDAQ index popped 180.39 points, or 1.3%, to 13,771.72.
Mega-cap technology stocks responsible for a sizeable chunk of 2023's market gains rose on Friday. Dominant artificial intelligence chipmaker Nvidia jumped 4%, bringing its yearly gains to 190%, while Meta Platforms, Microsoft and Netflix added more than 2% each.
Apple rose 1.6% to trade above a $3-trillion market cap.
Elsewhere, Nike shares bucked the broad market uptrend. The apparel giant fell 2% after reporting a weaker-than-expected quarterly profit.
Friday is a pivotal day for investors, marking not just the end of June, but also the conclusion of the second quarter and the first half. Here is where the indexes stand as of Thursday's close:
For June, the S&P 500 has gained 5.2% and is on pace for its best monthly performance since January. The NASDAQ has advanced 5.1%, and both it and the broad-market index are heading for a fourth consecutive positive month. The Dow has climbed 3.7%, and it's on track for its best month since November.
For the second quarter, S&P 500 has risen 7% and is tracking for a third straight quarter of gains. The NASDAQ touts a gain of 11.2% for back-to-back positive quarters. The Dow has jumped 2.6%, but it's also on pace for a third winning quarter.
For year-to-date and the first half, the S&P 500 has popped 14.5%, and it's heading for its best first half since 2018. The NASDAQ has surged nearly 30%, tracking for its best first half since 1983. The 30-stock Dow has a more modest gain of 2.94%.
The three major averages are also on pace for winning weeks, with the S&P 500 and Dow up more than 1% each, and the NASDAQ tracking for a 0.7% increase.
Prices for the 10-year Treasury gained ground, lowering yields to 3.81% from Thursday's 3.84%. Treasury prices and yields move in opposite directions.
Oil prices climbed 99 cents to $70.85 U.S. a barrel.
Gold prices recovered $7.80 to $1,921.80 U.S. an ounce.
Inflation News Propels Markets Higher to End First Half