Stock market today: Wall Street rolls to another winning week

NEW YORK — U.S. stocks ended higher after some mixed signals on big banks’ profits and inflation did little to dent Wall Street’s belief that easier interest rates are on the way. The S&P 500 rose 0.6% Friday in a widespread rally, closing its fifth winning week in the last six. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq composite rose 0.6%. Small-company stocks outpaced the rest of the market.

They helped offset a drop for Wells Fargo, which sank 5.8% even though the San Francisco-based bank reported stronger profit than analysts expected. It said a key underlying measure of profit fell from a year ago and that its net interest income could remain in the bottom half of the range it had forecast for the full year.

“It’s still going to take some time before we know whether yesterday’s number or today’s was the aberration,” said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. It's the second straight month such expectations have eased. That helped calm worries about a potential spiral where expectations for high inflation could drive U.S. consumers toward behavior that would push inflation even higher. That in turn could give the Federal Reserve more of the evidence of slowing inflation that it says it needs to begin cutting its main interest rate, which is at its highest level in more than two decades.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street drifts after mixed economic reports, more AI ebullienceNEW YORK (AP) — U.S. stocks are drifting around their records Thursday following some mixed data on the economy, including the latest encouraging update on...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street drifts after mixed economic reports, more AI ebullienceNEW YORK (AP) — U.S. stocks are drifting around their records Thursday following some mixed data on the economy, including the latest encouraging update on inflation. The S&P 500 was up 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens lower, pulling back from record highsNEW YORK (AP) — Stocks are opening lower on Wall Street after closing at a series of record highs. The S&P 500 fell 0.3% in the early going Friday, but is still holding on to a gain for the week. The Nasdaq composite fell 0.2%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts to a mixed close after European stocks slump againNEW YORK (AP) — U.S. stocks drifted to a mixed close as caution crept into financial markets heading into the weekend. The S&P 500 slipped less than 0.1% Friday after setting an all-time high every other day this week.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: S&P 500, Nasdaq futures steady near record highs as Wall Street gets bullishWall Street wondered if the bull rally that has roared through 2024 has more room to run.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq hold near record highs as Wall Street gets bullishWall Street wondered if the bull rally that has roared through 2024 has more room to run.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »