U.S. stocks finish higher as Nasdaq logs biggest two-day jump since February
U.S. stocks finished higher on Friday, with the Nasdaq Composite capping off a fifth-straight week in the green, and its biggest two-day jump since early February. According to FactSet data, the Nasdaq rose nearly 500 points between Thursday and Friday, the biggest two-day jump since Feb. 2. It's also the first time since Feb. 3 that the index has risen for five straight weeks. On Friday, the Nasdaq rose 277.59 points, or 2.2%, to finish at 12,975.69, according to preliminary closing data from FactSet. The index rose 2.5% this week, adding to a 3% gain from the week before. The S&P 500 rose 54.19 points, or 1.3%, to 4,205.47 on Friday, up 0.3% for the week. The Dow Jones Industrial Average rose 328.69 points, or 1%, to 33,093.34, but still finished the week down 1%. Stocks rose on Friday due in part to data on consumer spending and orders of so-called durable goods, which suggested the core of the U.S. economy was outperforming at the start of the second quarter. Meanwhile, shares of Nvidia Corp. gained 2.6% on Friday, on top of a gain of nearly 25% on Thursday after the chipmaker reported a blockbuster second-quarter sales forecast. It finished Friday at $389.46, according to FactSet.
-Joseph Adinolfi
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May 26, 2023 16:04 ET (20:04 GMT)
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