closed Wall Street On the upside in Friday’s trading, as evidence that inflation peaked in July increased investor confidence that the market was on its way to an upside and pushed the S&P 500 and Nasdaq to post gains for the fourth consecutive week.
The S&P 500 closed up 17.5 percent from its lows in mid-June, with the latest gains coming from data released this week which showed a slower-than-expected rise in CPI and a surprise drop in producer prices last month.
The Standard & Poor’s 500 index rose 72.13 points, or 1.71%, to close at 4279.40 points, while the Nasdaq Composite Index increased 265.14 points, or 2.07%, to 13045.05 points, according to Reuters.
The Dow Jones Industrial Average jumped 418.64 points, or 1.26%, to 3,3755.22 points.
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