The S&P 500 rose on Friday, extending its gains after entering a fresh bull market the day before.
Technology stocks led the market advance, which helped offset declines among materials and consumer goods stocks.
With no major economic data or earnings scheduled for release on Friday, investors are largely in a wait-and-see mode ahead of next week’s inflation data and the Federal Reserve’s interest rate decision. Money managers expect the central bank to skip a rate hike this month, but the path for further policy tightening remains uncertain.
Stocks were mixed. The S&P 500 and the Nasdaq Composite rose, while the Dow Jones Industrial Average fell.
Treasury yields rose. The yield on the 10-year note rose to 3.756% from 3.714% the day before.
Overseas stocks were mixed. Asian stocks rose, with Japan’s Nikkei up 2% and Hong Kong’s Hang Seng up 0.5%. The Stoxx Europe 600 fell 0.2%.
The Turkish lira continued its slide. The currency hit a new record low against the dollar after a former First Republic executive was appointed to head Turkey’s central bank.
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