Stocks end higher, closing out best week since February

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Technology companies led a rally on Wall Street that powered the Standard & Poor's 500 to an all-time high and gave the index its best weekly gain since February.

Uber has mishandled onboarding for transgender and nonbinary drivers, who faced rejected IDs, suspended accounts and safety concerns.

Analysts say the elevated inflation figures ramp up the pressure on the Fed to follow through on Powell’s comments. Many investors also expect the Fed to start raising interest rates from current ultra-low levels starting in the middle of next year. Investors’ worries over Omicron eased this week amid encouraging signs that the variant may be less dangerous than Delta. Pfizer said this week that its lab tests suggested the drugmaker’s COVID-19 boosters provide protection against the new strain.

 

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