Stocks on Wall Street finished their strongest week since February, with the blue-chip S&P 500 closing at a record high, after a rise in US inflation fell short of the market’s worst-case forecasts.
The S&P 500 index rose 1 per cent on Friday, and had a weekly gain of 3.8 per cent, eclipsing a previous record close just over three weeks ago. The technology focused Nasdaq Composite climbed 0.7 per cent, bringing its weekly rise to 3.6 per cent.
The US labour department said on Friday that consumer prices climbed 6.8 per cent in November from the same month in 2020, matching economists’ forecasts and the highest increase in 39 years.
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