The S&P 500 gained on Friday and headed toward its best week since June as a report showing slowing inflation on Thursday raised hopes that the Federal Reserve would soon slow its tightening campaign.
The S&P 500 added 0.1%, bringing its gain for the week to more than 5%, its best week since the one ended June 24 of this year. The Nasdaq Composite added 0.7% as investors continued to buy tech shares on hopes interest rates would ease. The Dow Jones Industrial average was the outlier, shedding 0.7% as shares of defensive stocks UnitedHealth and Merck declined.
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