Stocks rally after inflation data but close lower for the week

NEW YORK -U.S. stocks rallied to close out the trading week on Friday after two lackluster sessions as a cooler-than-expected inflation report and comments from Federal Reserve officials eased worries about the path of interest rates.Expenditure index showed a 2.4% rise in November on an annual basis, just below the 2.5% estimate of economists polled by Reuters.

Also providing support were comments from Fed officials, with some acknowledging they were starting to factor in fiscal policy uncertainty, such as tariffs, in their outlooks. Each of the 11 major S&P sectors advanced in the broad-based rally, led by a gain of 1.8% in real estate and buoyed by a drop in Treasury yields.Markets were also monitoring the U.S. Congress as it scrambled to avert a partial government shutdown before a midnight deadline. Republican leaders in the U.S. House of Representatives said they would vote on Friday to keep the federal government operating.

Friday's session also marks the simultaneous expiry of quarterly derivatives contracts tied to stocks, index options and futures, also known as"triple witching," which boosted trading activity.

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