U.S. stocks rose following an encouraging report on inflation that could help the Federal Reserve keep cutting interest rates next year.
A strong profit report from Micron Technology also helped AI stocks halt their sharp slides on Thursday, at least for now. The S&P 500 gained 0.8 percent to break a four-day losing streak. The Dow Jones Industrial Average added 0.1 percent, and the strength for tech stocks sent the Nasdaq composite up 1.4 percent.
Treasury yields eased in the bond market after the report showed U.S. inflation was less bad last month than economists expected.
On Thursday:
The S&P 500 rose 53.33 points, or 0.8 percent, to 6,774.76.
The Dow Jones Industrial Average rose 65.88 points, or 0.1 percent, to 47,951.85.
The Nasdaq composite rose 313.04 points, or 1.4 percent, to 23,006.36.
The Russell 2000 index of smaller companies rose 15.57 points, or 0.6 percent, to 2,507.87.
For the week:
The S&P 500 is down 52.65 points, or 0.8 percent.
The Dow is down 506.20 points, or 1 percent.
The Nasdaq is down 188.81 points, or 0.8 percent.
The Russell 2000 is down 43.59 points, or 1.7 percent.
For the year:
The S&P 500 is up 893.13 points, or 15.2 percent.
The Dow is up 5,407.63 points, or 12.7 percent.
The Nasdaq is up 3,695.57 points, or 19.1 percent.
The Russell 2000 is up 277.71 points, or 12.5 percent.
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