S&P 500 jumps to end at nearly 2-month high as U.S. stocks book strong weekly gains

U.S. stock indexes finished modestly higher on Friday with the tech-heavy Nasdaq Composite spearheading gains, as investors digested inflation data and corporates' fourth-quarter earnings reports ahead of next week's Federal Reserve monetary policy meeting. The S&P 500 SPX, +0.25% advanced 10 points, or 0.3%, to end at 4,070, while clinching its highest closing level since Dec.

2, along with a third winning week in the last four. The Dow Jones Industrial Average DJIA, +0.08% finished nearly flat at 33,978, but booked a weekly gain of 1.8%. Nasdaq Composite COMP, +0.95% jumped 1% and rallied 4.4% for the week, on pace to record its best first month of the year in over two decades. It has risen by more than 11% during the first four weeks of 2023, compared with a gain of more than 12% during the same period in 2000, according to Dow Jones Market Data.

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