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A leading source of global Islamic and Arabic news, views and information for more than 50 years.
US stocks ended with gains this week following signals that price increases could be slowing.
Personal incomes increased by 0.4% in April, while consumer expenditures rose by 0.9%, both exceeding expectations.
The rise in expenditures showed that consumption remained strong despite rising prices, and spending could support economic growth.
The blue-chip Dow Jones Industrial Average ended up 1.76%, or 575.77 points, at 33,212.96.
The S&P 500 rose 100.40 points, or 2.47%, to close at 4,158.24 points.
Meanwhile, tech-heavy Nasdaq increased 390.48 points, or 3.33%, to reach 12,131.13.
Major stock exchanges in Asia and Europe also finished the week on the positive side, while Turkiye’s benchmark stock index was down at Friday’s close./aa