Stocks closed higher on Wall Street as earnings reporting season got underway and CEOs began to show how well or poorly they’re navigating high inflation and a slowing economy.
The S&P 500 rose 0.4% Friday after erasing an earlier loss. The benchmark index closed out its best week in two months. The Nasdaq and the Dow also rose.
Stocks of several big banks rose following their earnings reports after shaking off morning losses. Tesla fell after cutting prices on its cars.
The S&P 500 rose 15.92 points, or 0.4%, to 3,999.09.
The Dow Jones Industrial Average rose 112.64 points, or 0.3%, to 34,302.61.
The Nasdaq rose 78.05 points, or 0.7%, to 11,079.16.
The Russell 2000 index of smaller companies rose 10.97 points, or 0.6%, to 1,887.03.
For the week:
The S&P 500 is up 104.01 points, or 2.7%.
The Dow is up 672 points, or 2%.
The Nasdaq is up 509.86 points, or 4.8%.
The Russell 2000 is up 94.23 points, or 5.3%.
For the year:
The S&P 500 is up 159.59 points, or 4.2%.
The Dow is up 1,155.36 points, or 3.5%.
The Nasdaq is up 612.67 points, or 5.9%.
The Russell 2000 is up 125.79 points, or 7.1%.
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