Stocks End Month Near Peak Buoyed by Growth Hopes: Markets Wrap
(Bloomberg) — Stocks notched their fourth straight monthly advance as data signaling prospects for a sustained rebound of the world’s largest economy outweighed inflation worries. The dollar was little changed.
The S&P 500 ended the week near a record, while the Russell 2000 of small caps capped its eighth consecutive month of gains — the longest run since 1995. Traders focused on the outlook for higher spending that could boost growth, even after the personal consumption expenditures core-price gauge posted its biggest increase in two decades. The perception that the latest figures won’t be enough to prompt any change in policy by Federal Reserve officials has also helped sentiment.
Inflation has certainly been a contentious topic for investors and economists alike, with some arguing that price increases are temporary and others anxious about elevated costs in the longer-term….