Stocks Surge to New Highs as Soft Landing Hopes Grow
• S&P 500 tracking towards 5th consecutive record high, Dow crossed 38,000, economy growing, inflation easing • Nasdaq up 3.3% in 2023, S&P 500 up 2.6%, Dow up 1%; indexes pacing for 6th straight winning session • Shift in market mood due to idea of "soft landing" - inflation easing without recession • AI boom fueling rally; Microsoft became 2nd ever $3 trillion company • Gains concentrated in big tech stocks; S&P weighing skewed by top 20 stocks overperforming other 480