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Tech-Led Rally Lifts US Stocks Amid Economic Uncertainty

Guavy AI Editorial Team
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The US stock market closed higher on the day, defying lingering economic uncertainties. The S&P 500 rose 1.29%, while the Nasdaq Composite advanced 1.99%. Technology shares led the charge, with mega-cap names like Apple and Microsoft contributing to the index's rise.

Investors' optimism was fueled by better-than-expected corporate earnings from large-cap tech companies and renewed hopes that the Federal Reserve may slow interest rate hikes. Economic data showing cooling inflation also boosted market sentiment.

The Dow Jones Industrial Average gained 0.92%, with financial and industrial sectors supporting its modest advance. However, energy stocks lagged due to slipping oil prices.

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