Wall Street stocks climbed early Friday in the final session of a week that has seen markets rise following improving US inflation data.
Reports the last two days on consumer and producer prices for July showed significant improvement in pricing trends compared with those in previous months.
The better data has prompted debate on whether the Federal Reserve may pivot more quickly from its recent posture of moving aggressively to hike interest rates.
On Thursday, stocks initially rallied but markets cooled on the recognition that inflation still remained elevated.
About 25 minutes into Friday’s session, the Dow Jones Industrial Average was up 0.5 percent at 33,486.95.
The broad-based S&P 500 advanced 0.6 percent to 4,230.51, while the tech-rich Nasdaq Composite Index jumped 0.7 percent to 12,862.92.
All three major indices are up for the week, reflecting improving sentiment after the first half of 2022 saw markets tumble.
“We are at a point in time where we have likely reached several peaks, including inflation, hawkish Fed sentiment, and pessimism,” Art Hogan, chief market strategist at B Riley Wealth Management, said in a morning note.
“We see better news in front of us than bad and suspect that the current rally has more room to run.”
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