Stocks rose for a fourth day in a row Friday, closing out their biggest weekly gain since November 2020.
Investors have welcomed the long-expected pivot from the Federal Reserve from stimulating the economy to fighting inflation, which began this week with its first interest rate increase since 2018.
The price of oil remains above $100 a barrel as investors monitor the ongoing Russian invasion of Ukraine. The yield on the 10-year Treasury note fell to 2.15%.
On Friday:
The S&P 500 rose 51.45 points, or 1.2%, to 4,463.12.
The Dow Jones Industrial Average rose 274.17 points, 0.8%, to 34,754.93.
The Nasdaq rose 279.06 points, or 2%, to 13,893.84.
The Russell 2000 index of smaller companies rose 21.12 points, or 1%, to 2,086.14.
For the week:
The S&P 500 is up 258.81 points, or 6.2%.
The Dow is up 1,810.74 points, or 5.5%.
The Nasdaq is up 1,050.03 points, or 8.2%.
The Russell 2000 is up 106.48 points, or 5.4%.
For the year:
The S&P 500 is down 303.06 points, or 6.4%.
The Dow is down 1,583.37 points, or 4.4%.
The Nasdaq is down 1,751.13 points, or 11.2%.
The Russell 2000 is down 159.17 points, or 7.1%.
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