Stocks close slightly higher but can’t salvage losing week


U.S. stocks finished modestly higher on Friday, but Wall Street still suffered a losing week amid renewed concerns that the Federal Reserve may keep interest rates higher for longer. The S&P 500 SPX, +0.14% booked a 1.3% weekly loss, while the Dow Jones Industrial Average DJIA, +0.22% fell 0.8% and the Nasdaq Composite COMP, +0.09% dropped 1.9% for the week. All three major indexes logged their worst weekly decline since August 18, according to Dow Jones Market Data. Meanwhile, investors looked ahead to inflation data, with readings on the consumer-price index and producer-price index next week expected to offer further clues on the central bank’s rate decision at its next policy meeting.

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