Stocks fly high on Wall Street, giving the S&P 500 its 4th straight week of gains
U.S. stocks saw big gains on Friday, giving the S&P 500 its first 4-week winning streak since November.The benchmark index rose 73 points to 4,280, or 1.7%, Friday, while the Dow Jones Industrial Average climbed 424 points to 33,761, or 1.3%. Technology stocks drove much the rally with the Nasdaq up 2%. Energy companies lagged the market as crude oil prices fell.
Inflation cooled more than expected last month, sending stocks higher. Investors see a higher chance inflation may have peaked, allowing the Federal Reserve to be less aggressive with its rate hikes than it has been this year.Inflation is still painfully high, of course, and the economy has given false signals before that relief was on the way only for the rug to get pulled out f...