Wall Street closed higher and recorded weekly gains, as the US Central Bank meeting approaches

© Archyde.com. Traders trade at the New York Stock Exchange on November 15, 2022. Photo: Brendan McDiarmid/Archyde.com.

NEW YORK (Archyde.com) – U.S. stocks closed higher on Friday, capping a volatile week that saw economic data and corporate earnings expectations point to sluggish demand but also showed the economy’s resilience ahead of next week’s Federal Reserve monetary policy meeting.

The Standard & Poor’s and the Nasdaq Composite rose, while the Dow Jones Industrial Average closed little changed.

Compared to last Friday’s close, Standard & Poor’s recorded its third weekly gain in four weeks, while the Nasdaq, which was dominated by technology stocks, recorded gains for the fourth consecutive week.

According to preliminary data, the index closed up 9.86 points, or 0.24 percent, to 4,070.29 points. The Nasdaq Composite Index increased 109.30 points, or 0.95 percent, to 11,621.71 points. The Dow Jones Industrial Average rose 25.18 points, or 0.07 percent, to 33,974.59 points.

(Prepared by Mahmoud Abdel-Gawad for the Arabic Bulletin)