What Recession? 5 Stocks Leading the Nasdaq to Its Best Month Since 2020
One day after a government report showed that the U.S. economy had shrunk for a second consecutive quarter -- an indicator the country may indeed be in a recession -- the Nasdaq Composite is up 228 points, or about 1.9% in mid-afternoon trading on Friday. Those gains put the index up by about 10.6% for the month. If the market holds onto that rise, July will go in the books as the best month for the tech-heavy index since late 2020.
Leading Friday's move higher were tech giants Amazon (NASDAQ: AMZN), up 12%, and Apple (NASDAQ: AAPL), up 3.7% after their quarterly reports -- delivered before the market opened -- beat expectations. A host of smaller tech companies' shares are up as well, including Five9 (NASDAQ: FIVN), which also rose 12% after reporting its own earnings.
Most of the clean energy stocks in the Nasdaq are also racing higher. The group includes SolarEdge Technologies (NASDAQ: SEDG) and Sunrun (NASDAQ: RUN), with shares up around 6% as of this writing. Those gains came after Thursday's news that the U.S. Senate is moving forward with a spending bill that would provide significant funding and incentives to the renewable energy industry.
Source Fool.com
