Global News

[ad_1] Wall Street rallied and the dollar softened on Friday as investors neared the end of a solid quarter with data showing progress in the Federal Reserve’s efforts to tame inflation. All three major U.S. stock indexes rose sharply, and were on track to post weekly, monthly and quarterly gains. “It’s a nice cherry on top to the end of a great quarter and an even better start to 2023," said Ryan Detrick, chief market strategist at Carson Group in Omaha. “This was one of the best starts to the year ever for Nasdaq and large cap technology names, but let’s not forget they were the hardest hit group in the vicious bear market of 2022." In the first half of 2023, the S&P 500 has advanced 16%, while the tech-heavy Nasdaq Composite has ridden the artificial intelligence wave, surging nearly 32%, its best performance in four decades. The Nasdaq 100 looks set to log its biggest first-half gain on record, jumping nearly 39%. The Dow is on track for a 3.6% year-to-date gain.