US stock prices hit more records on Wall Street this Friday and closed their best week of the year.
The S&P 500 rose 22.44 points, or 0.4%, to finish at 5,995.54. The index posted its biggest weekly gain since early November 2023 and briefly crossed the 6,000-point level for the first time.
The Dow Jones Industrial Average rose 259.65 points, or 0.6%, to 43,988.99, and the Nasdaq Composite rose 17.32 points, or 0.1%, to 19,286.78.
The relatively quiet stock trading came after indexes posted big gains and more record highs earlier in the week after Donald Trump won the presidential election and the Federal Reserve cut interest rates again to make things easier for the economy. .
In the bond market, long-term Treasury yields declined.
The 10-year Treasury yield fell to 4.30% from 4.33% Thursday afternoon. But it’s still well above where it was in mid-September, when it was close to 3.60%.
Treasury yields have risen largely because the U.S. economy has remained much more resilient than feared.
The hope is that it can remain strong as the Federal Reserve continues to cut interest rates to keep the labor market going, now that it has helped bring inflation down almost to its 2% target.
Part of the rise in yields has also been due to Trump. The former president promotes tariffs and other policies that economists say could drive up inflation and U.S. government debt, along with growth in the economy.
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