S&P, NASDAQ Add to Win Streaks

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 accumulated 43.63 points to 33,877.24.

The S&P 500 picked up 5.02 points to 4,298.95.

The NASDAQ index grabbed 20.62 points to 13,259.14.

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 up about 0.3%, on pace for its seventh straight advance one-week advance, which would be its longest streak of gains since November.

Tesla shares popped almost 5% on news that General Motors will use its electric vehicle charging network. GM’s stock also climbed 1.4%.

The market is also looking toward next week’s CPI numbers and the Federal Open Market Committee meeting. Markets are currently anticipating almost 75% probability the central bank to pause its rate-hiking campaign.

Prices for the 10-year Treasury lost ground, raising yields to 3.74% from Thursday’s 3.71%. Treasury prices and yields move in opposite directions.

Oil prices slid one dollar to $70.29 U.S. a barrel.

Gold prices shed $3.70 to $1,974.80 U.S. an ounce.