S&P 500 closes at new record, logs weekly gain

Economies.com
2021-06-11 21:13PM UTC

US stock indices rose on Friday, lifted by the release of strong inflation data.

 

The US consumer price index rose by 0.6% in May, the largest monthly increase in 13 years, higher than forecasts of 0.4%. 

 

The core reading (excluding food and fuel prices) rose by 0.7%, higher than forecasts of 0.5%. 

 

To the oil market, WTI crude July futures rose 0.9% or 62 cents, and closed at $70.91 a barrel, with a weekly gain of 1.9%, after hitting a high of $71.1 and a low of $69.6.

 

Brent August futures rose 0.2% or 17 cents, and closed at $72.69 a barrel, with a weekly gain of 1.1%, after hitting a high of $73.09 and a low of $71.8.

 

 

As for stocks, Dow Jones rose less than 0.1% or 13 points, and closed at 34,479, and posted a weekly loss of 0.4%, with a day high of 34,618, and a low of 34,328.

 

Nasdaq rose 0.3% or 49 points to 14,069, and registered a 1.9% weekly gain, with a high of 14,069 and a low of 14,006.

 

S&P 500 rose 0.2% or 8 points to 4,247, and posted weekly gains of 0.4%, after hitting a high of 4,248 and a low of 4,232.

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