As a gauge of inflation carefully tracked by the Federal Reserve came in at its lowest level in nearly two years, stocks increased on Friday, with the Dow Jones Industrial Average and S&P 500 finishing their third winning weeks in a row.
The Dow increased by 176.57 points (0.50%), reaching 35,459.29. To 4,582.23, the S&P 500 increased by 0.99%. Gaining 1.90% to 14,316.66, the Nasdaq Composite.
The 30-stock average rose by roughly 0.66%, while increases were recorded in all three major averages for the week. The Dow on Thursday snapped a 13-day winning streak, the longest since 1987. The tech-heavy S&P index rose 1.01%, while it increased 2.02%.
Investors celebrated this week’s data showing declining inflation and stronger-than-expected earnings reports that bolstered the argument that the United States could skip a downturn.
Source (CNBC)
