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US stocks extend rally on hopes for Fed rate pivot

Rita Nazareth

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US stocks finished the week on solid footing, with traders assessing whether an inflation slowdown could soon make the Federal Reserve reduce the pace of its most-aggressive tightening campaign in decades and prevent a hard landing.

Defying the crowd of sceptics who dubbed the rebound a bear-market rally, short-covering or unwinding of hedges, the S&P 500 notched its fourth straight week of gains – the longest winning run since November – with big tech leading gains on Friday (Saturday AEST).

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    Original URL: https://www.afr.com/markets/equity-markets/us-stocks-push-toward-longest-weekly-rally-this-year-20220813-p5b9jg