Wall Street surges to close the week
However, several Fed policymakers, including San Francisco Fed Bank President Mary Daly, noted that a dovish pivot is unlikely and that the central bank needs further evidence that inflation has peaked to change its tightening plans.
Feyisayo Ajayi
1 min read
US stocks closed at session highs on Friday, with the Dow adding more than 400 points, the S&P 500 1.7%, and the Nasdaq 2.1% with both the S&P 500 and the Nasdaq posted their fourth positive week while the Dow also recorded weekly gains.
Sentiment this week was boosted by signs that inflation is peaking, prompting markets to speculate that the Federal Reserve might ease interest-rate hikes soon.
However, several Fed policymakers, including San Francisco Fed Bank President Mary Daly, noted that a dovish pivot is unlikely and that the central bank needs further evidence that inflation peaked to change its tightening plans.
The United States Stock Market Index (US30) is expected to trade at 32815.74 points by the end of this quarter
