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U.S. stocks closed modestly higher Friday, snapping a three-day losing streak.
Technology companies, which suffered the brunt of the selling a day earlier, led the gainers. The day’s gains capped a turbulent week that left the stock market with its biggest weekly loss since March.
Investors welcomed new data showing inflation at the consumer level inched higher in July, suggesting the Federal Reserve may be less likely to raise interest rates next month.
The Standard & Poor’s 500 index rose 3.11 points, or 0.1 percent, to 2,441.32.
The Dow Jones industrial average gained 14.31 points, or 0.1 percent, to 21,858.32.
The Nasdaq composite added 39.68 points, or 0.6 percent, to 6,256.56.
The Russell 2000 index of smaller companies picked up 1.69 points, or 0.1 percent, to 1,374.23.
For the week:
The S&P 500 is down 35.51 points, or 1.4 percent.
The Dow is down 234.49 points, or 1.1 percent.
The Nasdaq is down 95.01 points, or 1.5 percent.
The Russell 2000 is down 38.09 points, or 2.7 percent.
For the year:
The S&P 500 is up 202.49 points, or 9 percent.
The Dow is up 2,095.72 points, or 10.6 percent.
The Nasdaq is up 873.44 points, or 16.2 percent.
The Russell 2000 is up 17.10 points, or 1.3 percent.