Nasdaq posts record closing high with tech gains, rate cut optimism

NEW YORK — U.S. stocks ended higher and the Nasdaq notched a record closing high for the second straight day on Friday as technology-related shares, including Apple, gained and as investors were optimistic about potential interest rate cuts. The three major indexes also registered solid gains for the week. Apple shares climbed 4.2 percent on Friday and were up 13.3 percent for the week in their biggest weekly percentage gain since 2020. U.S. President Donald Trump on Wednesday said Apple would invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years. The S&P 500 technology and communication services indexes led sector gains for the S&P 500 on Friday and the indexes also posted record high closes. Also helping the S&P 500, shares of Gilead Sciences jumped 8.3 percent after it raised its full-year financial outlook. Recent weaker economic data has underpinned expectations for rate cuts, while investors are evaluating Trump's interim pick for a Federal Reserve governor. The president late in Thursday's session nominated Council ofWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times