Wall Street

Wall Street climbs over 2% at end of strong week

Published by
Reuters

By Lewis Krauskopf, Sruthi Shankar and Anisha Sircar (Reuters) – Wall Street’s main indexes jumped more than 2% on Friday as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve’s rate-hike plans and set stocks on course for strong weekly gains. All 11 S&P 500 sectors were up strongly, with financials, materials and industrials leading the way. Financial markets have been roiled on worries that rapid rate hikes by the Fed to rein in 40-year-high inflation could cause a recession. Investors have been gauging when the market mig…

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