Por Stephen Culp
NEW YORK (Reuters) – Wall Street rallied on Friday to end a volatile week higher as Treasury yields plunged and economic data helped investors ignore the growing likelihood that the Federal Reserve US central bank) will maintain its tight monetary policy for longer this year.
All three major US stock indexes gained more than 1%, led by the Nasdaq technology index, which rose nearly 2% and received a solid boost from the more interest rate sensitive mega-cap stocks.
Treasury returns fell after comments from Fed officials, who allayed fears over inflation and borrowing costs.
For the week, the indices posted gains. The S&P 500 ended a three-week losing streak, while the Dow Jones, which returns to positive territory year-to-date, enjoyed its first weekly advance since late January. For the week, the benchmark S&P 500 index also surpassed its 50-day and 200-day moving averages, two important technical levels. S&P Global indicating that activity in the sector continues to expand even with the cooling of input prices. The Dow Jones rose 1.17% to 33,390.97 points. The S&P 500 gained 1.61% to 4,045.64 points. The Nasdaq advanced 1.97% to 11,689.01 points. All 11 major S&P 500 sectors ended the session in positive territory. The technology and consumer discretionary sectors saw the biggest percentage gains.
Clique HEREjoin the WhatsApp group of Agricultural News and receive first hand the main agribusiness news
Source:
Reuters