Market Snapshot: U.S. stocks end higher, tech-heavy Nasdaq scores fourth straight week of gains as Fed meeting looms

by | Jan 27, 2023 | Stock Market

U.S. stocks finished higher Friday, with the technology-heavy Nasdaq Composite leading the way up, as investors assessed fresh data on inflation and the economy as well as companies’ fourth-quarter earnings reports. The Nasdaq booked a fourth straight week of gains, its longest weekly win streak since August. How stock indexes traded
The Dow Jones Industrial Average
rose 28.67 points, or 0.1%, to close at 33,978.08, booking six straight days of gains in its longest winning streak since late October.

The S&P 500
gained 10.13 points, or 0.2%, to finish at 4,070.56 in back-to-back gains.

The Nasdaq Composite
advanced 109.30 points, or 0.9%, to end at 11,621.71, also booking back-to-back daily gains.

For the week, the Dow rose 1.8%, while the S&P 500 gained 2.5% and the tech-heavy Nasdaq jumped 4.3%.

What drove markets Stocks rose Friday, as investors parsed fresh economic data, including a reading from the Federal Reserve’s preferred inflation gauge showing more signs of the cost of living cooling in the U.S. The personal-consumption-expenditures price index rose …

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