Stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market.
The S&P 500 index, a benchmark for many stock funds, rose 1.4% and finished 9.1% higher for July. A rebound in technology stocks, big retailers and other companies that rely on direct consumer spending helped power the index’s broad gains this month. The index is still down 13.3% for the year.
The tech-heavy Nasdaq rose 1.9%, ending the month 12.4% higher, while the Dow Jones Industrial Average rose 1% and notched a 6.7% gain for the month.
The latest rally came as investors weighed a mix of company earnings reports and new data showing inflation jumped by the most in four decades last month.
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Source: Associated Press, ALEX VEIGA
To read more, click here: https://apnews.com/article/inflation-covid-health-china-xi-jinping-f40a6d6be9f826a172dbd616da14ec55
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