Despite Inflation Jump, Stocks Have Winning Week

Despite inflation hitting a 39-year high, the S&P 500 closed at a record on Friday, gaining +0.95% to 4,712.02, capping off a strong rally this week. The DOW gained 216.30 points or +0.60%, to 35,970.99, and the NASDAQ climbed +0.73% to close at 15,630.60.

The DOW rose +4.02% this week, snapping a 4-week losing streak; that's also its best weekly performance since March. The S&P 500 and NASDAQ added +3.82% and +3.61%, respectively, marking their best weeks since February.

Inflation soared 6.8% year-over-year in November to the highest rate since 1982, the Labor Department said Friday. The print came in slightly higher than the 6.7% Dow Jones estimate. The consumer price index, which measures the cost of a wide-ranging basket of goods, rose 0.8% for the month.

Core CPI, which excludes food and energy prices, rose 0.5% for the month and 4.9% from a year ago, in line with estimates.

Key Levels To Watch Next Week:

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Jeremy Lutz and