Wall Street tacked more onto its stupendous surge from a day before, leaving the market with its biggest weekly gain since the summer.
The S&P 500 rose 0.9% Friday, and the Nasdaq rose twice as much. Markets got a boost after China relaxed some of its anti-COVID measures, while a report suggested U.S. inflation expectations ticked modestly higher.
Stocks soared this week on hopes the worst of inflation may have passed and that the Federal Reserve can be less aggressive about raising interest rates, though some analysts called the rally overdone. Crypto sank after a major exchange filed for bankruptcy.
On Friday:
The S&P 500 rose 36.56 points, or 0.9%, to 3,992.93.
The Dow Jones Industrial Average rose 32.49 points, or 0.1%, to 33,747.86.
The Nasdaq rose 209.18 points, or 1.9%, to 11,323.33.
The Russell 2000 index of smaller companies rose 14.81 points, or 0.8%, to 1,882.74.
For the week:
The S&P 500 is up 222.38 points, or 5.9%.
The Dow is up 1,344.64 points, or 4.1%.
The Nasdaq is up 848.08 points, or 8.1%.
The Russell 2000 is up 82.87 points, or 4.6%.
For the year:
The S&P 500 is down 773.25 points, or 16.2%.
The Dow is down 2,590.44 points, or 7.1%.
The Nasdaq is down 4,321.64 points, or 27.6%.
The Russell 2000 is down 362.57 points, or 16.1%.
