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The Dow Jones Industrial Average rose 13.36 points, closing at 34,479.60, continuing its two-day winning streak.
The tech-heavy Nasdaq Composite closed the day at 14,069.42, up 0.4%, maintaining its gains from Thursday, on the back of strong performance by large-cap technology stocks.
Wall Street was led higher by high-flying technology growth stocks in Friday’s session as the 10-year Treasury yield fell below 1.4%, registering a three-month low.
The confidence of market participants was also boosted after the University of Michigan reported that the preliminary reading of its consumer sentiment index rose to 86.4 in June, surpassing the consensus estimate of 84.6, and higher than the reading of 82.9 reported in May.
stock markets saw major indexes closing mostly higher during the week as the Nasdaq Composite posted its fourth consecutive winning week, gaining 1.9%, while the S&P 500 rose 0.4%, gaining for the third successive week.
Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
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Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.