Wall Street stocks concluded a positive week with another upbeat session Friday, while European equities also advanced following a European Central Bank interest rate cut.
More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global equities after recent drops caused by worries of a possible US recession.
All three major US indices finished solidly higher, with the broad-based S&P 500 ending at 5,626.02, up 0.5 percent for the day and more than four percent for the week.
“There were no negative surprises,” said CFRA Research’s Sam Stovall. “The market has continued to creep back up to the all time high level.”
Earlier, European markets closed in the green, a day after the ECB cut its own rates for the second time this year as inflation cools.
Asia’s main stock markets diverged as they closed out the week.
The price of …