People walk outside the New York Stock Exchange on July 25, 2022 in New York City.
Spencer Platt | Getty Images
Markets closed higher for the week after a stellar rally on Thursday that saw big tech stocks soar amid weaker-than-expected consumer price index (CPI) data for October. The S&P 500 closed more than 5% higher for the week, its best week since June. Bond yields and the U.S. dollar fell as investors hoped CPI news could slow the pace of the Federal Reserve’s interest rate hike next month.
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