Washington: Major U.S. indexes closed mostly higher Friday, and several of them notched weekly gains, despite a recent run of daily swings on Wall Street as traders try to figure out what’s next for the economy. The S&P 500 index rose 0.5% after spending the day veering between a gain of 0.6% and a 0.4% decline. The Dow Jones Industrial Average rose 0.4%, while the Nasdaq composite fell 0.2%. The indexes alternated nearly every day this week between gains and losses. Investors are trying to suss out what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continue to play out. The benchmark S&P 500 posted a 1.8% gain for the week. That follows a 6.2% rise last week. The tech-heavy Nasdaq and Dow have also posted a weekly gain now the past two weeks. Bond yields rose significantly. Web Desk
The yield on the 10-year Treasury jumped to 2.48% from 2.34% late Thursday. Crude oil prices rose moderately after slipping earlier in the day.
“We’re still in this relatively neutral outlook right now, trying to digest what’s happening at the Federal Reserve, watching events in Russia-Ukraine and then getting ready for the first-quarter earnings season,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.
