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US stocks extend rally on hopes for Fed rate pivot

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