U.S. stocks ended higher after some mixed signals on big banks’ profits and inflation did little to dent Wall Street’s belief that easier interest rates are on the way.
The S&P 500 rose 0.6% Friday in a widespread rally, closing its fifth winning week in the last six. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq composite rose 0.6%.
Small-company stocks outpaced the rest of the market. Treasury yields swung in the bond market but remained a bit lower after a report showed inflation at the wholesale level was worse last month than expected.
On Friday:
The S&P 500 rose 30.81 points, or 0.6%, to 5,615.35.
The Dow Jones Industrial Average rose 247.15 points, or 0.6%, to 40,000.90.
The Nasdaq composite rose 115.04 points, or 0.6%, to 18,398.45.
The Russell 2000 index of smaller companies rose 23.23 points, or 1.1%, to 2,148.27.
For the week:
The S&P 500 is up 48.16 points, or 0.9%.
The Dow is up 625.03 points, or 1.6%.
The Nasdaq is up 45.69 points, or 0.2%.
The Russell 2000 is up 121.54 points, or 6%.
For the year:
The S&P 500 is up 845.52 points, or 17.7%.
The Dow is up 2,311.36 points, or 6.1%.
The Nasdaq is up 3,387.09 points, or 22.6%.
The Russell 2000 is up 121.19 points, or 6%.
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
