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The S&P 500 rose slightly Friday, reaching the 4,300 benchmark for the first time since August 2022 as investors looked ahead to new inflation data set for release next week, along with the Federal Reserve’s latest policy announcement.
The Dow Jones Industrials gained 99.75 points to open Friday at 33,933.36.
The much-broader S&P 500 gained 26.01 points to 4,319.94.
The NASDAQ index leaped 133.34 points, or 1%, to 13,371.86.
For the week, the S&P 500 was up 0.5%, on track for its fourth straight weekly gain. That would be the index’s longest weekly winning streak since August. The NASDAQ was also up about 0.5%, on pace for its seventh straight advance one-week advance, which would be its longest streak of gains since November 2019.
Tesla shares popped 5% on news that General Motors will use its electric vehicle charging network. GM’s stock also climbed 0.5%. DocuSign shares, meanwhile, jumped 7% after the electronic agreements firm beat analysts’ first-quarter expectations on the top and bottom lines.
Investors have been encouraged by signs that a broader swath of stocks, including small-cap equities, was participating in the recent rally.
Prices for the 10-year Treasury lost ground, raising yields to 3.76% from Thursday’s 3.71%. Treasury prices and yields move in opposite directions.
Oil prices picked up nine cents to $71.38 U.S. a barrel.
Gold prices added 90 cents to $1,979.50 U.S. an ounce.
