Shares on Wall Street closed out a winning week with gains on Fri, even as traders digested data showing US inflation hitting a 39-year high. The Dow Jones Industrial Average gained 216.30 pts, or 0.6%, to close at35,970.99.
The Dow had its best weekly performance since Mar, rising 4%.The broader S&P 500 index rose 0.95%. The S&P 500 Index closed at a record high. The tech-heavy Composite climbed 0.73%. The small cap Russell 2000failed to keep pace, edging lower by 0.38%.
Early trade this morning (Mon) in US equity index futures are pointing to a higher opening when Wall Street opens later today. Dow Jones Industrial Average futures have traded 90 points higher.
Apple (AAPL US) shares rose 2.8% last Fri, with the iPhone maker hitting another record and inching closer to a historic US$3t market valuation. Oracle (ORCL US, +15.61%) co-founder Larry Ellison’s wealth appreciated by almost US$16b, after Oracle posted better-than-expected quarterly results on Fri.
The 10-year Treasury note yield slipped 1.53 basis points (bps) to 1.4837%. The most actively traded US gold futures (Feb) contract settled up $8.10, or0.5%, at US$1,784.80/oz.
March silver, which is the most actively traded silver futures, rose 18.2 cents, or0.8%, to end at US$22.195/oz.
The ICE dollar index (DXY), which measures the strength of the green back against a basket of currencies, fell 0.18% to 96.097.
The front-month Brent and WTI futures closed up 73 cents at US$75.15/ bbl and 73 cents at US$71.67/bbl respectively.
Omicron restrictions weighed on European stock markets last Fri. The UK FTSE lost 0.4%, France's CAC 40 fell 0.24%, and the German DAX retreated 0.1%.