Stocks end higher on Wall Street, notching weekly gains

Wall Street
FILE - American flags fly outside the New York Stock Exchange, Friday, Sept. 23, 2022, in New York. (AP Photo/Mary Altaffer, File)

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writer

Stocks closed higher on Wall Street Friday, notching sizable weekly gains for major indexes.

The benchmark S&P 500 rose 2.4% Friday, while the Dow Jones Industrial Average and the Nasdaq also gained ground. Social media companies were broadly lower after Snapchat’s parent company issued a weak outlook and the Washington Post reported that Elon Musk plans to slash about three-quarters of the payroll at Twitter after he buys the company.

The yield on the two-year Treasury note fell to 4.49% on hopes that the Federal Reserve might consider slowing down its future rate increases after making another big hike next month.

Categories: National News, News