Investors cheered by economic data showing that inflation slowed in April for the first time since November 2020.
Stocks rose on Wall Street Friday and closed higher for the week, breaking a seven-week losing streak, the longest such stretch since 2001.
That added to other recent signs showing that while high inflation may be moderating. Another key inflation gauge, the Consumer Price Index, rose 8.3% from a year ago, down from 8.5% in March — the The report was released as Wall Street looks for any signal that inflation could be easing, while trying to figure out just how low stocks might sink.
Trading remained choppy throughout the week, though the market has mostly pushed higher, as retailers including Macy's and Dollar General released encouraging earnings reports and financial updates.
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