Wall Street rose to records after an update said U.S. households are feeling a bit less pain from inflation than feared.
The S&P 500 climbed 0.8% Friday and topped its prior all-time high set earlier this month. The Dow Jones Industrial Average jumped 1%, and the Nasdaq composite rallied 1.1%. Both also set records.
The inflation data could clear the way for the Federal Reserve to keep cutting interest rates in hopes of helping the slowing job market. A strong earnings report from Ford Motor and continued gains for AI stars also helped to drive stocks higher.
On Friday:
The S&P 500 rose 53.25 points, or 0.8%, to 6,791.69.
The Dow Jones Industrial Average rose 472.51 points, or 1%, to 47,207.12.
The Nasdaq composite rose 263.07 points, or 1.1%, to 23,204.87.
The Russell 2000 index of smaller companies rose 30.81 points, or 1.2%, to 2,513.47.
For the week:
The S&P 500 is up 127.68 points, or 1.9%.
The Dow is up 1,016.51 points, or 2.2%.
The Nasdaq is up 524.89 points, or 2.3%.
The Russell 2000 is up 61.30 points, or 2.5%.
For the year:
The S&P 500 is up 910.06 points, or 15.5%.
The Dow is up 4,662.90 points, or 11%.
The Nasdaq is up 3,894.07 points, or 20.2%.
The Russell 2000 is up 283.31 points, or 12.7%.
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