U.S. stocks ended higher after some mixed signals on big banks’ profits and inflation did little to dent Wall Street’s belief that easier interest rates are on the way.
The S&P 500 rose 0.6 percent Friday in a widespread rally, closing its fifth winning week in the last six. The Dow Jones Industrial Average climbed 0.6 percent, and the Nasdaq composite rose 0.6 percent.
Small-company stocks outpaced the rest of the market. Treasury yields swung in the bond market but remained a bit lower after a report showed inflation at the wholesale level was worse last month than expected.
On Friday:
The S&P 500 rose 30.81 points, or 0.6 percent, to 5,615.35.
The Dow Jones Industrial Average rose 247.15 points, or 0.6 percent, to 40,000.90.
The Nasdaq composite rose 115.04 points, or 0.6 percent, to 18,398.45.
The Russell 2000 index of smaller companies rose 23.23 points, or 1.1 percent, to 2,148.27.
For the week:
The S&P 500 is up 48.16 points, or 0.9 percent.
The Dow is up 625.03 points, or 1.6 percent.
The Nasdaq is up 45.69 points, or 0.2 percent.
The Russell 2000 is up 121.54 points, or 6 percent.
For the year:
The S&P 500 is up 845.52 points, or 17.7 percent.
The Dow is up 2,311.36 points, or 6.1 percent.
The Nasdaq is up 3,387.09 points, or 22.6 percent.
The Russell 2000 is up 121.19 points, or 6 percent.
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