With technology stocks turning in a strong performance, the Nasdaq has shown a substantial move to the upside during trading on Thursday. The tech-heavy index is extending the surge seen late in the previous session, reaching its best intraday level since last September.
Currently, the Nasdaq is hovering near its best levels of the day, up 375.01 points or 3.2 percent at 12,191.33. The S&P 500 is also up 59.24 points or 1.4 percent at 4,178.45 after reaching a five-month intraday high.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.