Stocks rallied Friday, but still posted their first losing week in six amid heightened inflation fears.
The Dow Jones Industrial Average rose 179.08 points, or 0.5%, to close at 36,100.31.
The S&P 500 gained about 0.7% at 4,682.85.
The Nasdaq Composite rallied 1% at 15,860.96.
The major averages closed the week lower after the hottest inflation report in 30 years. The Dow fell 0.6%, the S&P 500 dipped 0.3% and the Nasdaq Composite inched down about 0.7% on the week.
The October consumer price index released Wednesday showed inflation at its hottest pace in more than 30 years. The fresh inflation reading sent bond yields higher and hit growth pockets of the equity market.
Fresh data out Friday morning underscored persistent inflation fears and provided insight into the labor market.
Consumer sentiment in early November dropped to its lowest level in a decade, the University of Michigan reported Friday. Many survey respondents cited inflation concerns, according to the report.
Meanwhile, workers left their jobs in record numbers in September with 4.43 million people quitting, the Labor Department reported Friday. The exodus occurred as the U.S. had 10.44 million employment openings that month, according to the report.
Reference: CNBC
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