The Dow surged about 547 points on Friday, marking its biggest one-day gain since early January. The S&P 500 rose 1.8% and the Nasdaq Composite gained 2.3%. Still, the Dow and S&P 500 fell for the week, and the Nasdaq just barely eked out a gain.
Key inflation reports ahead The April Consumer Price Index and Producer Price Index are on deck for next week. Both are key inflation prints that could help determine the Fed’s next course of action in its battle against inflation. In March, annual CPI plunged to its lowest rate since May 2021, while the PPI saw a dramatic cooldown. The Personal Consumption Expenditures price index, the Fed’s favorite inflation gauge, also eased.
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