Wall Street rallies, snaps longest weekly losing streak in decades

Wall Street rallies, snapping its longest weekly losing streak in decades

Mktrep, Rep

5/28/2022 11:30:00 AM

Wall Street rallies, snapping its longest weekly losing streak in decades

Investors went into the weekend with more optimism that monetary policy can tighten without tipping the U.S. into recession.

Dell climbs on strong Q1 resultsGap, American Eagle Outfitters cut profit forecastsIndexes jump: Dow 1.76%, S&P 2.47%, Nasdaq 3.33%NEW YORK, May 27 (Reuters) - Wall Street closed sharply higher on Friday as signs of peaking inflation and consumer resiliency sent investors into the long holiday weekend with growing optimism that the Federal Reserve will be able to tighten monetary policy without tipping the economy into recession.

All three major U.S. stock indexes brought a decisive end to their longest weekly losing streaks in decades.The S&P and the Nasdaq suffered seven consecutive weekly declines, the longest since the end of the dot-com bust, while the blue-chip Dow's eight-week selloff was its longest since 1932.

Read more: Reuters »

Hope they get demolished next week

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Wall Street breaks 7-week losing streak, longest since 2001NEW YORK (AP) — Tech nology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001.

Wall Street breaks 7-week losing streak — longest since 2001Investors cheered by economic data showing that inflation slowed in April for the first time since November 2020.

Wall Street breaks 7-week losing streak, longest since 2001Stocks rose on Wall Street Friday and closed higher for the week, breaking a seven-week losing streak, the longest such stretch since 2001.

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