The major U.S. stock indexes settled higher on Friday, bringing some calm to markets that experienced wicked bouts of buying and selling throughout the week as investors betting on a rebounding economy battled with those reacting to inflation jitters.
Those big swings were stoked by economic data, which fanned concerns that near-term price spikes could translate into long-term inflation, despite assurances to the contrary from the U.S. Federal Reserve.
In the cash market, the benchmark S&P 500 Index settled at 4173.85, up 61.35 or +1.47%. The blue chip Dow Jones Industrial Average finished at 34382.13, up 360.68, up 1.05% and the tech-driven NASDAQ Composite closed at 13429.98, up 304.99 or +2.27%.
U.S. equity markets advanced on Friday even after data showed consumer purchases slowed down last month. Economic data showed retail sales growth stalling and consumer sentiment dipping as prices remain on an upward…