Are Markets Shaking Off Inflation Fears?
Samantha Subin and Yun Li of CNBC report the S&P 500 posts best week since November, Nasdaq surges 2% Friday as Alphabet soars: Stocks jumped Friday, and the S&P 500 and Nasdaq Composite notched their best week since November as Big Tech names rallied on strong earnings and traders pored through fresh U.S. inflation data. The broad market index advanced 1.02% to settle at 5,099.96. The tech-heavy Nasdaq climbed 2.03% to close at 15,927.90 and secure its best daily move since February. The Dow Jones Industrial Average rose 153.86 points, or 0.4%, to finish at 38,239.66. The S&P and Nasdaq clinched their best week since November. The S&P popped 2.7% to snap a three-week losing streak, while the Nasdaq gained 4.2% for its first positive week in five. The Dow edged up 0.7%. “We are finishing a volatile week on a strong note,” said Mona Mahajan, senior investment strategist at Edward Jones. “It’s nice to see some green on the screen. Clearly one of the drivers has b