US stocks end mostly higher after another up and down day

Stocks rose sharply on Wall Street on Friday after bouncing another day as traders tried to figure out what would happen next for the economy.

NEW YORK – Major U.S. indices closed mostly on Friday, and several of them gained weekly gains, with traders struggling to figure out what’s next for the economy, despite the recent daily swing on Wall Street.

The S&P 500 index rose 0.5% after spending the day between 0.6% gain and 0.4% fall. The Dow Jones Industrial Average rose 0.4%, while the Nasdaq Composite fell 0.2%.

The gains and losses indicators change almost daily this week. As Russia continues to respond to the aggression in Ukraine, investors are trying to figure out what will happen next with inflation and the global economy.

The benchmark S&P 500 gained 1.8% for the week. This follows a 6.2% increase last week. Tech-heavy Nasdaq and Dow have now posted a weekly gain over the past two weeks.

Bond yields have risen significantly. The 10-year Treasury yield jumped from 2.34% late Thursday to 2.48%. Crude oil prices have risen moderately since slipping early in the day.

“We are still in this relatively neutral position, trying to digest what is happening at the Federal Reserve, watching Russia-Ukraine events and then preparing for the first quarter earnings season,” said Tom Henlin, a national investment strategist at US Bank Asset Management.

The S&P 500 rose 22.90 points to 4,543.06. The Dow rose 153.30 points to 34,861.24, and the Nasdaq fell 22.54 points to 14,169.30.

The stock of small companies has also increased. The Russell 2000 index added 2.54 points, or 0.1%, to 2,077.98.

Banks and energy stocks account for a large portion of the S&P 500’s profits. The rise in bond yields has helped lift banks, which rely on higher yields to charge more profitable interest on loans. Bank of America rose 1.5%.

Technology stocks have declined and the market has checked profits elsewhere. The standards of the big technology companies have been outsourced, lending more weight to push the larger market higher or lower. Chipmaker Nvidia is down 1.6%.

US benchmark crude rose 1.4% to $ 113.90 a barrel, while international standard Brent crude rose 1.4% to $ 120.65. Global prices for the year are still up about 50%. Rising oil prices have helped lift stocks. Exxon Mobil gained 2.2%.

Oil prices have been volatile since Russia’s war against Ukraine began in February. Russia is the second largest exporter of crude oil. Electricity prices were already high, but the conflict has raised concerns about a growing supply crisis that could only exacerbate rising inflation.

The United States and Europe on Friday announced a partnership aimed at further isolating Moscow from aggression by reducing the continent’s dependence on Russian power. Russia has threatened to pay Europe for the export of natural gas in rubles, which has fallen in value due to sanctions and other measures. Russia’s economy has collapsed as governments have cut it off from international banking and trade.

Russia’s conflict has added to global concerns about rising inflation and the prospect of slower-than-expected economic growth. A survey on Friday found that business confidence in Germany, Europe’s largest economy, had plummeted in March due to the conflict in Ukraine.

Central banks, including the Federal Reserve, have been raising interest rates to offset the effects of rising inflation, which has only been exacerbated by Russia’s war in Ukraine. As Russia and Ukraine are both major global suppliers, the conflict is pushing up prices of wheat and other commodities.

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