Nasdaq Surges on Tech Revival as Investors Brush Aside Inflation Fears

U.S. stock markets closed in positive territory on Friday, capping off a resilient week for equities as investors brushed aside inflation concerns and piled back into technology shares.

The Nasdaq Composite surged 342.26 points, or 1.30 percent, to end at 26,690.62, driven by strong gains in megacap growth stocks and semiconductor names.

Market strategists attributed the rally to a combination of factors, including better-than-expected corporate earnings, easing fears about an economic slowdown, and expectations that the Federal Reserve may signal a pause in its rate-hiking cycle at its next meeting.