- US stocks edged higher on Friday and notched a third consecutive week of gains.
- That marked the longest weekly winning streaks for the S&P 500 and Dow since July.
US stocks edged higher on Friday and notched gains for the third straight week as markets rode a wave of optimism around the potential end of Fed policy tightening.
Each of the three top indexes rallied about 2% for the week. For the Dow and S&P 500, that marked the longest weekly rally since July.
Earlier this week, cooler-than-expected inflation data convinced investors the Fed is done hiking rates. According to Bank of America analysts, the latest reading "$4."
Friday also saw $4. Prices had been in a slump all week but surged upwards following news that Saudi Arabia is considering prolonging its production cuts into 2024.
Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:
- S&P 500>$4: 4,514.02, up 0.13%
- $4: 34,947.28, up 0.01% (1.81 points)
- $4: 14,125.48, up 0.08%
Here's what else is going on:
- Concerns that bond yields will spiral higher as fiscal conditions deteriorate $4 according to former Citigroup strategist Matt King.
- Based on returns since 1900, $4Fundstrat's Tom Lee said.
- There are a bunch of factors setting this market up for a $4 according to Jay Pelosky from TPW Advisory.
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