The Dow Jones industrial index closed Friday’s session, adding 1.76% to 33,212.96 points.
The Standard & Poor’s 500 rose 2.47% to 4158.24 points, recording the best week since November 2020 with gains of about 6% across five sessions.
For its part, the Nasdaq Composite Technology Index rose 3.33% today to 12,131.13 points.
The tech index was supported by the likes of Apple, Tesla and Dell Technologies (which benefited from posting higher-than-expected earnings).
The Personal Consumption Expenditure Index rose 6.3% year-on-year in April, down from 6.6% in March, according to data released today by the US Department of Commerce, which reassured the market.
Signs of improvement on the inflation front are doubling down on the idea that the Fed may not need to tighten its monetary policy much – that was also the message left after the May 3 and 4 meeting minutes were released this week. in which the central bank is more optimistic and expects to be able to halt the rate hike cycle later in the year.
Wall Street stock markets continued to recover today after several consecutive drops (seven weeks in the case of the S&P 500 and eight in the case of the Dow), with institutional investors rebalancing their portfolios to help lift stocks. .
Global equity funds have had their biggest betting influx in the last 10 weeks, according to Bank of America data, led by US bonds.
North American markets will be closed next Monday for Memorial Day.
