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Wall Street Surges as Tech Rally Pushes Indexes Toward Record Highs
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U.S. stocks soared Tuesday, with the S&P 500 and Nasdaq Composite closing at their highest levels since February, inching closer to all-time records. The Dow Jones Industrial Average also joined the rally, climbing over 500 points, or roughly 1.2%.
The surge was fueled by renewed optimism in megacap tech stocks, particularly Nvidia, Microsoft, and Apple, which helped the Nasdaq 100 notch a fresh closing high. Investors were also buoyed by signs of geopolitical easing, as a fragile U.S.-brokered ceasefire between Israel and Iran appeared to hold, easing fears of oil supply disruptions.
Federal Reserve Chair Jerome Powell’s testimony to Congress added to the bullish sentiment. Powell signaled that*interest rate cuts could come “sooner rather than later”, while maintaining a cautious stance amid ongoing tariff concerns.
With the S&P 500 now within 1% of its record high and the Nasdaq already setting new benchmarks, Wall Street appears to be regaining its footing after a volatile spring. The rally underscores investor confidence in both the resilience of the U.S. economy and the enduring strength of the tech sector.
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