NEW YORK — U.S. stocks are heading toward the close of another winning week with some more modest gains. The S&P 500 was up 0.3% in early trading Friday. The Dow Jones Industrial Average was up 118 points, and the Nasdaq composite was up 0.4%. The S&P 500 has returned to within 1% of its record after coasting through relatively quiet trading this week. Revived hopes that the Federal Reserve may deliver cuts to interest rates this year drove the gains.
The Japanese Finance Ministry reported a record current account surplus for the fiscal year through March, as strong auto exports whittled down its trade deficit and the nation racked up solid returns on overseas investments.Hong Kong's Hang Seng jumped 2.3% to 18,963.68, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,154.55.
On Thursday, the S&P 500 rose 0.5% and the Dow Jones Industrial Average gained 0.8%. The Nasdaq composite added 0.3%.
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