U.S. stocks end higher Friday but suffer weekly losses amid inflation jitters

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Stocks ended with strong gains Friday, building on the previous session’s bounce as major benchmarks trimmed weekly losses. The Dow Jones Industrial Average DJIA, +1.06% rose around 361 points, or 1.1%, to end near 34,382, according to preliminary figures. The S&P 500 SPX, +1.49% finished around 61 points higher, up 1.5%, near 4,174, while the Nasdaq Composite COMP, +2.32% rallied around 305 points, or 2.3%, to close near 13,430. Friday’s gains were broad based, with tech-related shares rising alongside stocks tied more closely to the economic reopening. Equities slumped earlier in the week and tumbled hard on Wednesday after data showed a hotter-than-expected rise in the April consumer price index. The bounce left the Dow with a weekly loss of 1.1%, while the S&P 500 stumbled 1.4% and the Nasdaq declined 2.3%.

This article was originally published by Marketwatch.com. Read the original article here.

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