- US stocks ended higher Friday, with the S&P 500 jumping past the key milestone of 5,000.
- Revised CPI data released Friday showed inflation cooled in December more than initially reported.
US stocks were up on Friday with the S&P 500 ending the day past the key psychological mark of 5,000.
The benchmark index punched through 5,000 first on Thursday, closing the day just shy at 4,997. After $4 released Friday that showed inflation cooled more than initially reported in December, the $4 pushed to new highs, climbing as high as 5,029 during the trading day.
Stocks capped off the week with the fifth straight weekly gain.
"What does 5000 mean? On the surface, not a whole lot, we know that. But psychologically is really what matters," Ryan Detrick, chief market strategist from the Carson Group, said on Bloomberg TV on Friday.
Usually, in the six months after psychological levels are breached, the S&P 500 has never dipped lower, Detrick said. If anything, it provides a fresh catalyst for stocks to continue rallying
"We think this is a pretty strong sign that we're still in a bull market, we've said that for a while, and get on the ride," he said. "It's a fun ride."
Here's where US indexes stood at the closing bell at 4:00 p.m. on Friday:
- S&P 500>$4: 5,026.61, up 0.57%
- Dow Jones Industrial Average>$4: 38,671.69, down 0.14%
- Nasdaq Composite>$4: 15,990.66, up 1.25%
Here's what else is going on:
- $4 as much as the whole Chinese stock market.
- The commercial real estate crisis will $4 in May, top economist says.
- Vladimir $4 as the world's reserve currency.
- $4, Jeremy Grantham's GMO says.
- Wharton professor Jeremy Siegel says the $4 — and highlights where investors should put their money to capitalize.
- Bitcoin's sudden rebound keeps the $4, Standard Chartered says
In commodities, bonds, and crypto: