Wall Street ended on a high note on Friday, maintaining Thursday’s robust gains, with the Dow Jones closing 0.24% up at 40,659.76 points.
The broader S&P 500 Index and tech-heavy Nasdaq also edged up by the same percentage, closing at 5,554.25 and 17,631.72 points respectively.
All in all, New York’s stock exchanges witnessed their best week of the year. This upturn was influenced by encouraging US inflation figures, fuelling expectations of an interest rate cut by the Federal Reserve next month.
Thursday saw fears of an impending recession diminish further, thanks to better-than-expected US employment and retail sales data.
Earlier this month, however, sluggish job growth had sparked fears of an economic downturn, causing unrest in stock markets worldwide.
