us stocks closed higher friday ending the month strong and the first half of 2023 with robust gains as a long anticipated economic recession failed to materialize the dow jones industrial average djia rose about 283 points friday up 08 ending near 34405 according to preliminary factset data it gained 46 in june and 38 in the last six months its best first half since 2021 according to dow jones market data stocks have been in rally mode in 2023 as inflation continued to retreat under a regime of sharply higher interest rates the bullish tone especially for a select few technology stocks has endured even as fed chairman jerome powell repeatedly said a few more interest rates look likely this year and that rates will likely stay high for awhile yet the us economy hasn’t tipped into a recession suggesting the fed might have room to pull off a “soft landing” for the economy or at least only a mild recession as it fights to bring down the cost of living to its 2 annual target on friday the personalconsumption expenditures price index a key inflation gauge eased to a 38 annual rate in may the slowest level since april 2021 against that backdrop the sp 500 index spx rose 12 friday 23 in june and 159 in the first half its best start to a year since 2019 but the nasdaq composite index was the standout gaining 15 on friday and 317 in the first half of 2023 which was its best first half since 1983 according to dow jones market data