Wall Street rallied amid hopes inflation may continue to cool and the Federal Reserve may ease up on its interest rate hikes following some mixed readings on the U.S. economy.
The S&P 500 shook off a shaky start and closed 2.3% higher Friday, marking its first winning week in the last five. The Dow Jones Industrial Average and the Nasdaq composite also closed with solid gains.
Reports showed that gains for workers’ wages slowed unexpectedly last month, which could reduce the pressure on inflation. So could a separate report that showed activity for U.S. services businesses contracted. Treasury yields fell.
On Friday:
The S&P 500 rose 86.98 points, or 2.3%, to 3,895.08.
The Dow Jones Industrial Average rose 700.53 points, or 2.1%, to 33,630.61.
The Nasdaq rose 264.05 points, or 2.6%, to 10,569.29.
The Russell 2000 index of smaller companies rose 39.61 points, or 2.3%, to 1,792.80.
For the week:
The S&P 500 is up 55.58 points, or 1.4%.
The Dow is up 483.36 points, or 1.5%.
The Nasdaq is up 102.81 points, or 1%.
The Russell 2000 is up 31.55 points, or 1.8%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
