Wall Street Closes Higher with S&P 500 Hitting New Record High

The main indices of the New York Stock Exchange (NYSE) finished higher on Friday, with Wall Street investors showing little concern over the recent surge in inflation, as it is likely to be temporary.

The Dow Jones Industrial Average closed at 34,479.60 points, rising by 13.36 points, or 0.04%, failing to recover from its weekly decline of 0.8%. This marked the first loss for the index in three weeks.

Meanwhile, the S&P 500 index settled higher by 8.26 points, or 0.19%, at a new record high closing level of 4,247.44 points, raising its weekly gains to 0.4%.

The NASDAQ Composite Index rose by 49.09 points, or 0.35%, at 14,069.42 points, extending its rise for the week to 1.9%.