People walk outside of the New York Stock Exchange on July 25, 2022 in New York City.
Spencer Platt | Getty Images
Markets closed higher for the week after a stellar rally Thursday that saw Big Tech stocks soar on the back of weaker-than-expected consumer price index (CPI) data for October. The S&P 500 closed up more than 5% for the week, its best week since June. Bond yields and the U.S. dollar fell, while investors hoped the CPI news could slow the Federal Reserve’s pace of interest rate hikes next month.