How major US stock indexes fared Friday 5/26/2023

Stocks rose on Wall Street, led by more gains in technology stocks as another chipmaker reported strong demand related to artificial intelligence. The S&P 500 rose 1.3% Friday, and the Nasdaq rose 2.2%. The Dow added 1%. Marvell Technology jumped 33% after saying it expects AI revenue to at least double in fiscal 2024 from the prior year. That follows Thursday’s report from fellow chipmaker Nvidia, which gave a big forecast for upcoming sales related to AI. Investors were encouraged to see a pickup in consumer spending last month. U.S. markets will be closed on Monday for Memorial Day.