Stocks ended the day in the green on Friday after a rally on Thursday saw the benchmark S&P 500 and tech-heavy Nasdaq Composite erase losses suffered during this month's sell-off. These gains helped secure the best week of the year for all of the major indexes and the best week for stocks since November. After rallying more than 2% on Thursday, the Nasdaq closed up about 0.2% on Friday. The S&P 500 and Dow Jones Industrial Average also each secured gains of about 0.2%.
Thursday's gains were catalyzed by two key readings on the US consumer — monthly retail sales and Walmart's latest earnings report — which showed any recessionary fears triggered by the sharp drop in stocks at the beginning of the month are likely misplaced. "We've seen consistency with the consumer," Walmart's CFO told Yahoo Finance. "If you look at each month of the second quarter, they were all fairly consistent.
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