Stocks closed out an uneven week with a solid rally Friday, as investors applauded tame inflation data and bank shares rallied on some regulatory relief from the Federal Reserve.
 | FRI, MAR 26, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 121.21 | +0.62 | +0.51% | | INTC | 64.87 | +2.85 | +4.60% | | CSCO | 52.57 | +2.06 | +4.08% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | VIAC | 48.23 | -18.12 | -27.31% | | DISCA | 41.90 | -15.85 | -27.45% | | AAPL | 121.21 | +0.62 | +0.51% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | BIDU | 208.61 | +4.04 | +1.97% | | AAPL | 121.21 | +0.62 | +0.51% | | AMD | 77.41 | +1.19 | +1.56% | |
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Stocks closed out an uneven week with a solid rally Friday, as investors applauded tame inflation data and bank shares rallied on some regulatory relief from the Federal Reserve. The Dow Jones Industrial Average climbed more than 450 points for the day. Major tech companies Facebook and Netflix were up more than 1% by the end of the day, but still in the red for the week. Big losers on the Nasdaq Composite included Discovery Inc. and ViacomCBS, demonstrating weakness in media companies. Inflation numbers that came in around Wall Street estimates helped set a positive mood for the session. Core personal consumption expenditures, the Fed's key inflation gauge, rose just 1.4% year-over year, a touch below estimates.  Along with the soft inflation data, the final reading of consumer sentiment from the University of Michigan was a bit higher than expected at 84.9. "This morning's data continues to underpin our confidence that the U.S. economy is recovering, and this recovery will accelerate meaningfully over the next quarter as the economy reopens and consumers spend more forcefully after a year of pent-up demand for travel and recreation activity," said Scott Ruesterholz, portfolio manager at Insight Investment. Bond markets focused on economic growth rather than tame inflation, with yields across the curve rising sharply. |
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