Wall Street added to its recent gains Friday with a broad rally that broke the market's three-week losing streak.
&P 500 closed 1.5% higher, its third straight increase, and ended with a 3.7% gain for the week. That makes it the benchmark index's best week going back to July.
A weaker dollar and a reversal among short-sellers - traders who bet that the market will go lower -- appeared to be responsible for some of the rally Friday, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. DocuSign jumped 10.5% after the electronic signature company reported strong second-quarter sales and raised its subscription forecast.&P 500 rose, though makers of household goods and utilities, which are typically considered less risky investments, lagged the market. U.S. crude oil prices rose 3.9%, helping push up energy sector stocks. Exxon Mobil rose 1.7%.
The Fed has been the main focus for investors as they try to figure out whether the central bank's plan to cool the hottest inflation in four decades will work or possibly trip an already slowing economy into a recession.
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