Business
The Nasdaq Gains 1.5%. Wall Street Is Still Chasing Momentum Stocks.
Wall Street was chasing momentum in chips and other AI plays on Friday.
The Nasdaq was up 1.5%. The S&P 500 was up 0.8%. Both set fresh intraday records on Friday and were on pace to finish the week at closing highs. It would be the sixth weekly gain in a row for both indexes.
The Dow was flat. It’s struggled to keep up with the S&P due to its lack of chip stocks and other major tech players that are supercharging the market’s rally.
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