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US equity indexes closed higher on Friday, driven by a broad-based rally and significant gains in mega-cap technology names, even as investors appeared to disregard a bear steepening in the yield curve.
The Nasdaq Composite climbed 0.6% to 27,366.17, while the S&P 500 advanced 0.6% to 7,811.54. The Dow Jones Industrial Average rose 0.8% to 51,654.95.
All sectors gained except energy and communication services, with real estate, consumer discretionary, and healthcare leading the advance.
According to data compiled by Finviz, seven of the top 10 companies by market capitalization were technology firms. Alibaba (BABA) topped the gainers in this group, rising 5.4%.
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