The Dow Jones industrial average rose 1.8 percent and the broad S & P500 index rose 2.5 percent.
The technology shares acted like locomotives after strong results from software companies and a decline in the interest rate on the ten-year government securities. Technology-heavy Nasdaq’s composite index rose 3.3 percent.
All three major indices closed the week with a rise. The trend on the New York Stock Exchange has otherwise pointed downwards in recent months. The Dow Jones entered the trading week with an eight-week negative weekly trend, while the S & P500 and Nasdaq had seven straight weeks with negative weekly results.
The Dow rose 6.2 percent during the week, breaking its longest weekly losing streak since 1923, according to CNBC. The S&P 500 ended the trading week 5.6 percent higher. Nasdaq rose 6.2 percent.
Friday’s trading was strengthened by a report showing that inflation has slowed somewhat. Core inflation rose 4.9 per cent in April, down from 5.2 per cent the previous month.
Also on Wednesday and Thursday, the index closed at plus.