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The S&P 500 rose on Friday as it remained on course for another weekly gain amid a red-hot November rally.
The Dow Jones Industrials forged ahead 1.81 points to end the day and the week at 34,947.28.
The much-broader index moved ahead 5.78 points to 4,514.02.
The NASDAQ gained 11.81 points to 14,125.48.
The major averages all achieved for their third straight positive week. This would be the first three-week win streak for the Dow and S&P 500 since July, and the first since June for the NASDAQ.
Those gains were sparked by tame U.S. inflation data that gave hope to investors that the worst of inflation — as well as the Federal Reserve’s tough stance on rate policy — may be in the rearview mirror.
Stocks have been on a tear this month. In November, the S&P 500 is up 7.7%, while the Dow has a 5.8% gain. The NASDAQ has leapt 10%.
Those gains were sparked by tame U.S. inflation data that gave hope to investors that the worst of inflation — as well as the Federal Reserve’s tough stance on rate policy — may be in the rearview mirror.
The question is whether traders will be able to maintain that optimism for the remainder of the month. In November, the S&P 500 is up 7.5%, while the Dow has a 5.7% gain. The NASDAQ has leapt 9.8%.
Gap shares steamrolled 29% after the company posted better-than-expected results for the third quarter. Electric vehicle charging network
ChargePoint slid 35% after announcing a shake-up in its C-suite and cutting its forecast for third-quarter revenue.
Prices for the 10-year Treasury regained ground, lowering yields to 4.44% from Thursday’s 4.45%. Treasury prices and yields move in opposite directions.
Oil prices grew $2.89 to $75.79 U.S. a barrel.
Gold prices slumped four dollars to $1,983.30.
