2024-01-13 07:13:03
US stock indices recorded a collective weekly rise, although they closed without significant change in Friday trading, following fluctuating between rising and falling slightly.
The impact of mixed business results for banks was offset by a report indicating a below-expected inflation reading in the largest economy in the world, which revived hopes that the US Federal Reserve would reduce interest rates.
Data showed on Friday that US producer prices fell unexpectedly in December in light of falling costs for commodities such as food and diesel fuel.
While prices in the services sector did not change for the third month in a row, in contrast to consumer price inflation data issued yesterday, Thursday, which was higher than expected.
Stock movements
During the past week, the Dow Jones Industrial Average rose by 0.34 percent, reaching the level of 37,592.98 points, and the Standard & Poor’s 500 index rose in a week by 1.84 percent, reaching the level of 4,783.83 points.
The Nasdaq Composite Index recorded an increase of 3.09 percent, reaching the level of 14,972.76 points.
In Friday trading, the Standard & Poor’s 500 index closed up by 3.60 points, equivalent to 0.08 percent.
The Nasdaq Composite Index rose 1.73 points, or 0.02 percent, while the Dow Jones Industrial Average fell 0.31 percent.
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