U.S. Stocks Surge towards Best Week Since November

U.S. stock indexes wrapped up their best week in two months, with the S&P 500 rising 1% and the Dow Jones Industrial Average gaining 334 points. This surge was driven by strong performances from major tech stocks, collectively known as the 'Magnificent Seven,' which includes companies like Alphabet, Amazon, and Tesla. Investors were buoyed by recent reports indicating a slowdown in inflation, leading to speculation that the Federal Reserve might implement further interest rate cuts. SLB, a services provider to oilfields, also boosted market sentiment after exceeding profit expectations and announcing substantial stock buybacks. Despite concerns that rising Treasury yields might impact stock prices, easing yields this week helped lift the markets. The overall positive economic outlook suggests that while inflation remains a concern, the immediate market response has been favorable.