After catching up on Wall Street: US stock markets close in positive territory

Frankfort, New York Buoyed by price gains in technology stocks, the US stock exchanges rose on Friday. The Dow Jones gained 1.2 percent to 32,152 points. The tech-heavy Nasdaq was up 2.1 percent to 12,112 points and the broad-based S&P 500 was up 1.5 percent to 4067 points. For the week, the S&P was up 3.6 percent, the Dow was up 2.7 percent and the Nasdaq was up 4.1 percent.

After the strong sell-off in the last few weeks of August, a catch-up race is now underway, said trader Dennis Dick from broker Triple D Trading. Next week’s inflation data should point the way ahead, providing an indication of the pace of rate hikes by the US Federal Reserve. Fed Chair Jerome Powell recently announced further tightening. Fed Chairman Chris Waller sees a reduced fear of a recession as the basis for further aggressive interest rates.