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The Closing Bell: Wall St. Rallies As Powell Stays On Rate-Hike Course
FYI: U.S. stocks rose Friday, with the S&P 500 and the Nasdaq closed at records, after Federal Reserve Chairman Jerome Powell affirmed the central bank’s strategy of gradually normalizing monetary policy, highlighting the strength in the economy and robust corporate results that have helped to support investment appetite for equities.
For the week, the S&P is up 0.9% for its second straight weekly gain. The Nasdaq is up 1.6% on the week, while the Dow is up 0.5%, which would be the second straight positive week for the blue-chip average. The Russell 2000 small-cap index gained 0.5%. and closed at all time high.
Ten of the eleven S&P 500 Sectors were in the green with only Consumer Staples in negative territory. Regards, Ted
