U.S. stocks booked modest gains Friday, while advancing for a second week in a row to kick off 2023. The Dow Jones Industrial Average gained about 112 points, or 0.3%, ending near 34,302:
U.S. stocks booked modest gains Friday, while advancing for a second week in a row to kick off 2023. The Dow Jones Industrial Average DJIA, +0.33% gained about 112 points, or 0.3%, ending near 34,302, while the S&P 500 index SPX, +0.40% rose 0.4%, according to preliminary FactSet levels. The rate-sensitive Nasdaq Composite Index COMP, +0.71% gained 0.7% Friday, while outperforming the week with a 4.8% gain. The Dow rose 2% for the week and the S&P 500 climbed 2.
7%, the best week of gains on a percentage basis in two months, according to Dow Jones Market Data. The rally in stocks has been bolstered by inflation data that continued its retreat. The consumer-price index for December was pegged at a 6.5% annual rate, down from a 9.1% peak last summer. Investors on Friday heard from big banks JPMorgan Chase & Co. JPM, +2.52% and Bank of America BAC, +2.20% as they kicked off fourth-quarter earnings. Treasury Secretary Janet Yellen also warned top U.S.
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