Wall Street stocks shrugged off early weakness on Friday to secure solid gains as markets try to pivot from a grim first half of 2022 dominated by inflation worries. Equities spent much of the morning in the red, absorbing an industry survey showing slowing growth in the manufacturing sector. But markets reversed course in the final hours of trading, rallying into a holiday weekend amid hopes for a better second half of the year. Investors remain worried about a possible recession as the Federal Reserve aggressively tightens monetary policy in response to inflation. The S&P 500 suffered its worst first semester in a year since 1970. The Dow Jones Industrial Average finished up 1.1% at 31,097.26. The broad-based S&P 500 also climbed 1.1% to 3,825.33, while the tech-rich Nasdaq Composite Index advanced 0.9% to 11,127.85.
Published in The Express Tribune, July 3rd, 2022.