S&P 500 ticks higher to record, powered again by tech stocks

NEW YORK (AP) – The S&P 500 ticked higher to close at another all-time high Friday, powered by strength for technology stocks and better-than-expected reports on the U.S. economy.

The index rose 0.3%, even though the majority of stocks in it weakened.

It followed up on losses across Europe after more discouraging reports there indicated a slowdown in its economies.

Despite its record-setting week, the market’s momentum has slowed recently after roaring back from its nearly 34% plunge from late February into March.

The S&P 500 clinched its seventh gain in the last eight weeks, but the last two have been the most modest of that stretch.

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