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US stocks edged higher on Friday and notched a third consecutive week of gains.
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That marked the longest weekly winning streaks for the S&P 500 and Dow since July.
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Markets rode a wave of optimism this past week around the potential end of Fed policy tightening.
US stocks edged higher on Friday and notched gains for the third straight week as markets rode a wave of optimism around the potential end of Fed policy tightening.
Each of the three top indexes rallied about 2% for the week. For the Dow and S&P 500, that marked the longest weekly rally since July.
Earlier this week, cooler-than-expected inflation data convinced investors the Fed is done hiking rates. According to Bank of America analysts, the latest reading “broke the hiking cycle’s back.”
Friday also saw oil prices whiplash. Prices had been in a slump all week but surged upwards following news that Saudi Arabia is considering prolonging its production cuts into 2024.
Here’s where US indexes stood at the 4:00 p.m. closing bell on Friday:
Here’s what else is going on:
In commodities, bonds, and crypto:
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