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Most of Wall Street leaps in a widespread rally, from big stocks to small

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Wall Street rallied after encouraging reports on inflation and on strong profits at 3M and other big U.S. companies.

A widespread rally swept Wall Street on Friday, lifting far-reaching corners, to close a tumultuous week during which stocks that had been left behind for much of this year’s record-setting run wrested the spotlight back from the market’s biggest stars. The Standard & Poor's 500 jumped 1.1% for its best day in seven weeks after 3M and several other big companies delivered better profits for the spring than analysts expected. The Dow Jones industrial average soared 654 points, or 1.

The company behind the Scotch-Brite and Nexcare brands also raised the bottom end of its forecast range for profit for the full year. Market watchers have been hoping for just such a broadening of gains because a market with many stocks rising is seen as healthier than one lifted by just a handful of dominating elites. Stocks broadly got a boost from Friday’s latest update on inflation, which further cemented investors' expectations for coming cuts to interest rates. U.S.

 

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