Wall Street returned to record heights Friday to cap a punishing, two-year round trip dogged by high inflation and worries about a recession that seemed inevitable but hasn’t arrived.
The S&P 500, which is the main measure that professional investors use to gauge Wall Street’s health, rallied 1.2% to 4,839.81. It erased the last of its losses since setting its prior record of 4,796.56 at the start of 2022.
In Canada, strength in financial, utilities and technology stocks helped the TSX gain almost 150 points Friday. The S&P/TSX composite index closed up 149.79 points at 20,906.52.
“It’s been a really constructive day for equities, certainly in North America,” said Kathrin Forrest, equity investment specialist at Capital Group.
Friday’s lift for Wall Street came with a big boost from technology stocks, something that’s become typical in its run higher.
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