Reported 5 months ago
The article reports that Wall Street closed higher, with the Nasdaq and S&P 500 advancing, and crude oil prices rebounding on Friday ahead of the U.S. Memorial Day weekend. The session followed positive economic data, including strong durable goods orders and consumer sentiment, influencing investors to position themselves for the unofficial start of summer. Despite concerns over inflation and interest rates following the Federal Reserve's hawkish tone in recent minutes, stocks rallied with the Dow closing slightly higher. Additionally, European shares closed lower, while Treasury yields were mixed, and the dollar dipped against a basket of currencies. Crude prices rose, and gold prices increased but recorded their first weekly decline in three weeks due to lowered rate cut expectations.
Source: YAHOO