Stock Market Rallies as Inflation Concerns Ease and Tech Leads Gains
U.S. stock markets climbed on May 5 with the Russell 2000 and Nasdaq setting intraday records, as investors shook off earlier Iran war jitters and bought tech and small-cap stocks.
Major Index Performance
The S&P 500 gained 0.55%, while the Dow Jones Industrial Average advanced 0.55%. The Nasdaq rose 0.70%, while the Russell 2000 slipped 0.60%.
Risk Appetite Returns
Yesterday's Iran War jitters are nowhere to be seen in the market as major indexes leap higher.
Corporate Earnings
Shares of GE Vernova (GEV) were rising on news that the energy giant is partnering with nuclear startup Blue Energy to supply a Texas data center project with natural gas–fueled electricity and nuclear power. The companies plan to design and develop a nuclear power plant using GE Vernova Hitachi Nuclear Energy's (GVH) BWRX-300 small modular reactor (SMR).