Wall Street closes higher after business activity data

Nov 22 - Wall Street closed higher on Friday, with all three major indexes posting weekly gains, as investors took comfort from data pointing to robust economic activity in the world's biggest economy.

Meanwhile, Alphabet , fell following Thursday's 4% drop, as the U.S. Department of Justice argued to a judge the company was monopolizing online search.An index tracking S&P 500 value stocks , rose as investors rotated out of their growth peers , . There is a 59.6% probability the central bank will lower borrowing costs by 25 basis points, as per the CME Group's FedWatch Tool.

In company news, Gap Inc , jumped after the Old Navy parent raised its annual sales forecast and said the holiday season was off to a"strong start".

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Stock market today: Wall Street cruises toward the close of its best week in a yearNEW YORK (AP) — U.S. stocks are coasting to the close of their best week in a year with some modest moves. The S&P 500 rose 0.1% early Friday and was on track for its biggest weekly gain since early November 2023.
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Stock market today: Wall Street drifts after inflation update comes in as expectedNEW YORK (AP) — U.S. stocks drifted near their records after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 ended little changed Wednesday.
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