Stocks rally, driving Wall Street toward rare winning week

Stocks are rallying again on Friday, and Wall Street is heading for just its second winning week in the last 12 in a reprieve from its brutal sell-off.

The S&P 500 was 2.4% higher in afternoon trading.

Stocks have climbed this week as pressure from rising Treasury yields lets up somewhat and investors speculate the Federal Reserve may not have to be as aggressive about raising interest rates as earlier thought.

It’s been a reprieve from Wall Street’s tumble through most of the year, as central banks slam into reverse on the tremendous support they fed into markets through the pandemic.

Categories: National News