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Topline
Investors plowed into the stock market this week after a monthly inflation report ended a streak of worse-than-expected data this year, fueling the biggest rally in years on hopes the Federal Reserve may be nearing the end of its interest rate hikes, but analysts and some officials have quickly pointed out the economy remains in flux and prone to recession—even if stocks suggest otherwise.
Key Facts
After major indexes posted their best day since early 2020 on Thursday, the Dow Jones Industrial Average, S&P 500 and tech-heavy Nasdaq extended gains on Friday—climbing as much as 2% and highlighting investor relief over the October inflation report that showed inflation cooled more than economists expected last month, notes Oanda analyst Craig Erlam.
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