Wall Street concluded a volatile week of trading with a wide stock market surge on Friday, with the S&P 500 posting its fourth weekly gain in a row.

The benchmark index finished 1.7% higher, for a weekly gain of 3.3%. The S&P 500 hadn’t had such a strong run since November.

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The Dow Jones Industrial Average gained 1.3%, while the Nasdaq and Russell 2000 both gained 2.1%. Each index likewise saw a strong weekly rise.

The rise was mostly driven by technology stocks. Crude oil prices dropped, while bond rates were mixed.

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Much of the week was bumpy, but major indices got a strong boost on Wednesday when data revealed that inflation slowed more than anticipated last month. Another report on Thursday showed inflation at the wholesale level also slowed more than expected.

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The cooler-than-expected inflation readings have bolstered hopes among investors that inflation may be close to a peak and that the Federal Reserve could less aggressively hike interest rates, its main tool for fighting inflation.

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The S&P 500 rose 72.88 points to 4,280.15, while the Dow gained 424.38 points to 33,761.05. The Nasdaq added 267.27 points to 13,047.19.

Small-company stocks also made strong gains, a sign that investors are confident about the economy. The Russell 2000 rose 41.36 points to 2,016.62.

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Around 95% of the stocks in the S&P 500 rose, with technology companies driving much of the rally. Chipmaker Nvidia rose 4.3%.

The central bank has been raising interest rates in the hopes of slowing the economy and cooling the hottest inflation in four decades, but investors are worried that it could hit the brakes too aggressively and steer the economy into a recession.

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On Friday, a survey by the University of Michigan showed that consumer sentiment is stronger than economists expected. Still, inflation remains painfully high. That means the Fed is likely to remain on course with its rate hikes until it is certain that prices have peaked and are easing.

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The Fed’s last two increases were by 0.75 percentage points. Traders now see about a 60% chance that the central bank will raise overnight interest rates by half a percentage point at its next meeting.

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The yield on the 10-year Treasury fell to 2.84% from 2.88% late Thursday. It remains below the two-year yield. That’s an unusual inversion of the expectation that borrowing money for a longer period should cost more than a shorter period. When investors demand a higher return for a short term like the 2-year than a longer one like 10 years, it’s viewed by some investors as a reliable signal of a pending recession. The economy has already contracted for two consecutive quarters.

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Next week the Commerce Department releases its retail sales report for July and retail giant Walmart reports its latest financial results.

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Investors can also assess the health of the housing market when they get a report on home sales for July and the latest earnings from Home Depot.