S&P 500 rises to highest close of 2023

Index closed at 4,594.63 points, up 26.83 points, topping close on July 31 at 4,588.96

NEW YORK:

The benchmark S&P 500 index closed at its highest level of the year on Friday amid growing optimism the Federal Reserve was done raising US interest rates and could begin to cut them next year as inflation cools.

The index closed at 4,594.63 points, up 26.83 points, or 0.59%, and topping the close on July 31 at 4,588.96, which had been the prior high of 2023.

US stocks rebounded in November following three straight months of declines on better-than-expected earnings and as evidence of easing inflation boosted bets that the Fed was at the end of its monetary tightening campaign.

Published in The Express Tribune, December 3^rd, 2023.

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