Stocks end mostly higher as S&P 500 sets record, sees strongest weekly gain since February

Stocks ended mostly higher Friday, capping a week of gains that saw the S&P 500 and Nasdaq Composite set records as investors erased a pullback that followed a more hawkish tone from the Federal Reserve on June 16, and took a further rise in inflation in stride. The Dow Jones Industrial Average rose around 239 points, or 0.7%, to finish near 34,436, according to preliminary figures. The S&P 500 advanced around 14 points, or 0.3%, to close near 4,281, finishing at a record for a second straight session and logging a weekly rise of 2.74%, its strongest since the week ended Feb. 5, according to Dow Jones Market Data. The Nasdaq Composite pulled back slightly from the latest in a string of records set Thursday, losing around 9 points, or 0.1%, to end near 14,345. The Dow rose 3.4% for the week, while the Nasdaq gained 2.4%.

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