US Stocks Climb on Friday as Inflation Expectations Seen Easing, Bullard Plays Down Recession Fears

Last Updated: Friday, June 24, 2022 4:16 PM | MT Newswires

US equity benchmarks closed higher Friday as an inflation expectations gauge showed signs of easing versus a prior estimate while St. Louis Federal Reserve Bank President James Bullard played down the possibility of a recession.

The Dow Jones Industrial Average climbed 2.7% to 31,500.68, with the S&P 500 up 3.1% to 3,911.77 and the Nasdaq Composite was 3.3% higher at 11,607.62.

All sectors posted gains, led by materials.

The US 10-year yield rose 6.4 basis points to 3.13% after touching 3.49% last week.

West Texas Intermediate crude oil futures climbed 2.9% to $107.31 per barrel but were still well below more than $120 per barrel reached earlier this month.

Gold slipped 0.1% to $1,828.20 per troy ounce.

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