S&P 500 Notches Best Week Since Late January: Markets Wrap
- Treasuries rallied, with the 10-year yield around 3.96%
- A benchmark of the dollar snapped a four-week winning streak
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US stocks ended the week on a high note, driven by speculation that the Federal Reserve won’t raise interest rates beyond peak levels already priced in.
A rally in the S&P 500 Friday helped snap a three-week losing streak. The Nasdaq 100 scored its best day since early February. Sentiment remained upbeat despite a report showing resilience in the service sector, as some investors wagered the impact of the Fed’s hikes on the economy would be delayed. A measure of prices paid by service providers showed costs rising at a slower pace, which was cheered by traders.