US stocks end higher, S&P 500 scores best week since November 2023

US stocks closed Friday higher on lower yields of Treasury to book their best weekly advance since November. This followed stable inflation forecasts for the next 12 months and an increase in consumer confidence for the first time in five months.

The Dow Jones Industrial Average gained 96 points, or 0.25%, closing at 40,659 points. The index jumped 2.95% this week.

The S&P 500 index edged up0.2%, or 11 points, to end at 5,554 points. The index added 3.95% this week, scoring its best weekly performance since Nov. 3, 2023 (+5.85%).

Similarly, the Nasdaq Composite Index rose 0.2%, or 37 points, to finish it 17,631 points. The technology index snapped its four-week losses, surging 5.30% this week.

Elsewhere, the STOXX Europe 600 Index closed 0.3% higherat 511.4 points. It rose 2.45% this week, posting gains for the second straight week.

Germany’s DAX 40 Index added 0.75% to18,322 points, with FTSE 100 shedding 0.45% to 8,311 points. The CAC 40 Index advanced nearly 0.35% to end at 7,449 points.

The Nikkei 225 jumped3.65%, or 1,336 point, to 38,062 points. TOPIX gained 3% to 2,678 points. Both indices advanced8.65% and 7.85%, respectively.

In the oil market, futures for benchmark Brent crude for October delivery fell by 1.7%, or $1.36, to $79.68 a barrel, ending the week almost flat.

Meanwhile, the price of US WTI crude for September delivery dropped 1.95%, or $1.51, to $76.65 a barrel, posting a loss of 0.25% during the week.

As for gold, December futures prices rose 1.8%, or $45.4, to $2537.80 per ounce. The yellow metal achieved weekly gains of about 2.6%.