Stocks end higher Friday, but Dow books worst 7 weeks of declines in two years

stocks-end-higher-friday,-but-dow-books-worst-7-weeks-of-declines-in-two-years

U.S. stocks finished higher Friday, but with the Dow still ending a seventh week in a row lower, as investors worried about the Federal Reserve’s ability to tamp down high inflation without kicking the economy into a recession. The Dow Jones Industrial Average DJIA, +1.47% gained about 465 points Friday, or 1.5%, ending near 32,196. The S&P 500 index SPX, +2.39% gained 2.4%, after coming close to entering a bear-market territory on Thursday, and the Nasdaq Composite Index COM, +0.72% jumped 3.8%. The bounce heading into the weekend still wasn’t enough to erase sharp earlier losses. The Dow ended the week 2.1% lower for a seventh week in a row, tallying its sharpest 7-week percentage point plunge since April 24, 2020, according to Dow Jones Market Data. The S&P 500 lost 2.4% for the week and the Nasdaq shed 2.8% since Monday.

Source: Marketwatch

Related Posts