U.S. stocks ended higher on Friday, hitting big weekly and monthly gains, as the Nasdaq Composite posted its best month of July. Stocks continued to rise after the Federal Reserve raised interest rates by another 75 basis points on Wednesday in a bid to curb inflation. The highest. Investors seemed to like what they heard from big tech earnings this week and Fed Chairman Jerome Powell, who said he doesn’t think the U.S. is still in a recession, despite a slowdown in economic data. The Dow Jones Industrial Average
It rose 316 points on Friday, or 1%, to close near 32,846. The blue-chip index rose about 3% for the week and climbed 6.7% in July, helping it approach the key close of 32,877.66 needed to officially break out of correction territory, according to Dow Jones market data. S&P 500 index
It rose 1.4% on Friday, 4.3% for the week and 9.1% in July, according to Factset. The Nasdaq Composite Index
Up 1.9% on Friday, 4.7% for the week and 12.4% for the month. The strong monthly gain was the best month for the Dow and S&P 500 since November 2020 and the best month for the Nasdaq since April 2020, according to Dow Jones Market Data.