Business
S&P 500 Ends Week Within Striking Distance of Record Ahead of Next Week’s Fed Decision
The S&P 500 pulled within striking distance of its highest levels on record on Friday after the latest wave of economic data did little to shift rate-cut expectations.
The market benchmark rose 0.2% to mark its second weekly gain in a row. It also briefly cleared its Oct. 28 closing high before pulling back. The Dow Jones Industrial Average gained 104 points, or 0.2%. The Nasdaq Composite rose 0.3%.
It was a mostly quiet Friday afternoon for markets. The major indexes briefly popped after the September core personal consumption expenditures price index matched economist forecasts and the University of Michigan’s consumer sentiment index rose more than expected in December.
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