Wall Street rallied to cap a winning week, month and first half of the year after reports suggested pressure on inflation may be easing.
The S&P 500 jumped 1.2% Friday to reach its highest level since April 2022. It surged 15.9% in the first half of the year.
The Dow rose 0.8% and the Nasdaq composite added 1.4%.
The market has rallied through 2023 in part because the economy has been able to avoid a long-predicted recession. Wall Street hopes inflation is easing enough for the Federal Reserve to soon halt its hikes to rates.
On Friday:
The S&P 500 rose 53.94 points, or 1.2%, to 4,450.38.
The Dow Jones Industrial Average rose 285.18 points, or 0.8%, to 34,407.60.
The Nasdaq composite rose 196.59 points, or 1.4%, to 13,787.92
The Russell 2000 index of smaller companies rose 7.14 points, or 0.4%, to 1,888.73.
For the week:
The S&P 500 is up 102.05 points, or 2.3%.
The Dow is up 680.17 points, or 2%.
The Nasdaq is up 295.41 points, or 2.2%.
The Russell 2000 is up 67.10 points, or 3.7%.
For the year:
The S&P 500 is up 610.88 points, or 15.9%.
The Dow is up 1,260.35 points, or 3.8%.
The Nasdaq is up 3,321.44 points, or 31.7%.
The Russell 2000 is up 127.49 points, or 7.2%.
Sourse: abcnews.go.com
