Despite inflation hitting a 39-year high, the S&P 500 closed at a record on Friday, gaining +0.95% to 4,712.02, capping off a strong rally this week. The DOW gained 216.30 points or +0.60%, to 35,970.99, and the NASDAQ climbed +0.73% to close at 15,630.60. The DOW rose +4.02% this week, snapping a 4-week losing streak; that's also its best weekly performance since March. The S&P 500 and NASDAQ added +3.82% and +3.61%, respectively, marking their best weeks since February. Inflation soared 6.8% year-over-year in November to the highest rate since 1982, the Labor Department said Friday. The print came in slightly higher than the 6.7% Dow Jones estimate. The consumer price index, which measures the cost of a wide-ranging basket of goods, rose 0.8% for the month. Core CPI, which excludes food and energy prices, rose 0.5% for the month and 4.9% from a year ago, in line with estimates. Key Levels To Next Week: S&P 500 (CME:SP500): 4,743.83 Dow (INDEX:DJI): 35,970.99 NASDAQ (NASDAQ:COMP): 16,212.23 U.S. Dollar (ICE:DX): 95.75 Gold (NYMEX:GC.G22): 1,791.00 Crude Oil (NYMEX:CL.F22): 70.32 Bitcoin (BITCOIN:BITSTAMPUSD): 60,090.55
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