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Stocks Gain as Tech Overcomes Inflation Worries: Markets Wrap

  • S&P 500 gains for second day; J&J climbs on plans to split
  • U.S. Treasuries fall while bitcoin, oil prices decline
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El-Erian: This Is One of the Worst Inflation Calls by the Fed Ever
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U.S. equities climbed, led by technology and communication services, Friday as inflationary pressures continued to reverberate through markets.

The S&P 500 rose 0.7% in a second day of gains after a slide Wednesday on higher-than-expected consumer prices. Johnson & Johnson gained after saying it will split into two companies. And Lordstown Motors slid after announcing production delays. Treasuries fell.