Wall Street steamrolled even higher to add more gains to its best week nearly a year.
The S&P 500 rose 0.9% Friday. The Dow added 222 points, and the Nasdaq composite rose 1.4%.
Stocks surged this week on rising hopes the Federal Reserve is finally done with its market-crunching hikes to interest rates, which are meant to get inflation under control. A report on Friday underscored that pressure is easing on inflation after it showed employers hired fewer workers last month than expected. Treasury yields tumbled, releasing more of the pressure that had built up.
On Friday:
The S&P 500 rose 40.56 points, or 0.9%, to 4,358.34.
The Dow Jones Industrial Average rose 222.24 points, or 0.7%, to 34,061.32.
The Nasdaq composite rose 184.09 points, or 1.4%, to 13,478.28.
The Russell 2000 index of smaller companies rose 46.49 points, or 2.7% to 1,760.70.
For the week:
The S&P is up 240.97 points, or 5.9%.
The Dow is up 1,643.73 points, or 5.1%.
The Nasdaq is up 835.27 points, or 6.6%.
The Russell 2000 is up 123.77 points, or 7.6%.
For the year:
The S&P 500 is up 518.84 points, or 13.5%.
The Dow is up 914.07 points, or 2.8%.
The Nasdaq is up 3,011.80 points, or 28.8%
The Russell 2000 is down 0.54 points, or less than 0.1%.
Source: abcNEWS
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