Nasdaq Rises Nearly 2% in September, Boosted by Late-Month Tech Rally
The Nasdaq Composite Index closed slightly positive on the last day of September as a late-month rally helped drive gains for technology stocks. The index rose nearly 2%, supported by strong performance from tech companies during the final days of the month. Other major Wall Street indexes showed mixed results following an unexpected drop in PCE inflation data, which came in cooler than anticipated. The market reaction to the lower-than-expected inflation reading was muted as investors focused on sector-specific performances. The Nasdaq's rise highlights continued investor confidence in technology stocks despite broader economic uncertainties.
Topics: Nasdaq Composite PCE inflation data Wall Street indexes