Stocks closed at the highest in a month as data showed a decline in inflation expectations and big banks rebounded from losses driven by worrisome outlooks. Treasuries retreated.
Ahead of Monday’s US holiday, the S&P 500 crossed its 200-day moving average and finished within a hair of 4,000. JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., which reported results, pushed higher. The Nasdaq 100 climbed for a sixth straight day, the longest winning run since November 2021 — the month when it hit an all-time high.
