Dow jumps 400 points, S&P 500 rises for fourth straight week as investors warm to cooler inflation
Stocks rose sharply on Friday, clinching the fourth straight positive week for the S&P 500 as investors celebrated signs that inflation is peaking. The Dow Jones Industrial Average added 424.38 points, or 1.27%, to close at 33,761.05. The S&P 500 gained 1.73% to finish at 4,280.15, and the Nasdaq Composite surged 2.09% to 13,047.19. The S&P 500 rose 3.25% on the week and is on track for its longest weekly winning streak since November 2021. The Dow was up 2.92% for the week, while the Nasdaq Composite moved higher by 3.08%. For the Nasdaq, it is also the fourth positive week in a row. The averages have been boosted by positive news on the inflation front . The consumer price index was flat from June to July, thanks in large part to falling gas prices, which lowered headline inflation. The produce price increase showed a surprise decline . On Friday, import prices also fell more than expected. This week’s moves have extended a market rally off its mid-June lows. The S...