Alphabet and Microsoft led the U.S. stock market to its first winning week in the last four and its biggest weekly gain since November
The best week for U.S. stocks since November closed out with more gains thanks to Alphabet and Microsoft on Friday. Standard & Poor's 500 rallied 1% to finish its first winning week in the last four. The Dow Jones industrial average rose 153 points, or 0.4%, and the Nasdaq composite jumped 2%. Alphabet leaped 10.2% after breezing past analysts’ expectations for profit last quarter.
While inflation has remained hotter than forecast, EY Chief Economist Gregory Daco expects it to cool in coming months as shoppers pressured in part by slowing growth in wages tamp down their purchases, which is the fuel that gives inflation energy. “Consumers remain willing to spend, but not on anything, nor at any price,” he said. Economists also said the weaker-than-expected reading on the overall U.S.
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