Major Indices Sustain Rally Amid Economic Data and Tech Strength

The S&P 500 continued its upward trajectory on Thursday, inching closer to record territory as a broad-based rally propelled U.S. stocks to their fourth consecutive day of gains. The benchmark index's advance was complemented by a triple-digit rise in the Dow Jones Industrial Average, signaling sustained investor confidence.

Tech Sector Fuels Momentum as GDP Data Surprises

Leading the charge, the technology-heavy Nasdaq Composite outperformed its peers, buoyed by strength in major tech shares. The positive sentiment was bolstered by a stronger-than-expected Gross Domestic Product (GDP) reading, which alleviated some concerns about the economic outlook and reinforced the narrative of a resilient economy.

However, the session was not without its losers. The solar energy sector faced significant headwinds, with one major solar stock plunging sharply amid company-specific challenges, highlighting the selective nature of the current market environment.

Market on Pace for a Historic Close

With the sustained momentum, analysts note the S&P 500 is on track for a potential record closing high. The consistent gains across multiple sessions suggest a consolidation of the recent bullish trend, with investors seemingly looking past near-term volatility in favor of longer-term growth prospects, particularly in the technology sector.