Stocks are closing higher on Wall Street, giving the S&P 500 its first 4-week winning streak since November.
The benchmark index gained 1.7% Friday, and other indexes also rose. Technology stocks drove much the rally. Energy companies lagged the market as crude oil prices fell.
Inflation cooled more than expected last month, sending stocks higher. Investors see a higher chance inflation may have peaked, allowing the Federal Reserve to be less aggressive with its rate hikes than it has been this year.
The S&P 500 rose 72.88 points, or 1.7%, to 4,280.15.
The Dow Jones Industrial Average rose 424.38 points, or 1.3%, to 33,761.05.
The Nasdaq rose 267.27 points, or 2.1%, to 13,047.19.
The Russell 2000 index of smaller companies rose 41.36 points, or 2.1%, to 2,016.62.
For the week:
The S&P 500 is up 134.96 points, or 3.3%.
The Dow is up 957.58 points, or 2.9%.
The Nasdaq is up 389.63 points, or 3.1%.
The Russell 2000 is up 94.79 points, or 4.9%.
For the year:
The S&P 500 is down 486.03 points, or 10.2%.
The Dow is down 2,577.25 points, or 7.1%.
The Nasdaq is down 2,597.78 points, or 16.6%.
The Russell 2000 is down 228.70 points, or 10.2%.