tech shares powered higher thursday as markets shook off recent weakness even as the bank of england and other central banks hiked interest rates again to counter inflation google parent alphabet rose 22 percent and amazon won 43 percent as the sp 500 and nasdaq broke a threeday losing streak the techrich nasdaq composite index finished up 10 percent at 1363061 the broadbased sp 500 advanced 04 percent to 438189 while the dow jones industrial average was essentially unchanged at 3394671 the gains came as federal reserve officials continued to vow an aggressive stance on inflation fed governor michelle bowman said more rate increases were probably needed to meaningfully and durably bring inflation down but investors are skeptical the fed will follow through the market just doesnt believe it said quincy krosby of lpl financial adding that many expect an improvement in us inflation data that will be released ahead of the feds next decision among individual companies boeing shares shed 30 percent after spirit aerosystems a key supplier on the 737 max announced it was suspending factory production this came after workers represented by the international association of machinists and aerospace workers rejected a new contract banking shares were under pressure as martin gruenberg head of the federal deposit insurance corporation said regulators were considering new capital requirements on larger banks jpmorgan chase bank of america and goldman sachs all lost more than 15 percent