The Dow Jones Industrial Average rose 100 points on Friday

The Dow Jones Industrial Average (DJIA) notched in 100 points on the high side on Friday after kicking the day off on the low side. Bids tested low early in the day before recovering the 40,500.00 level and investors are knocking on one of the index’s best single-week performances of the year to-date.

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Stocks Climb on a Benign U.S. CPI Report

Stocks this morning are moderately higher, with the Dow Jones Industrials posting a 1-week high. Today’s benign U.S. July CPI report bolstered the outlook for the Fed to pause its interest rate hike campaign and is fueling stock gains. Also, a jump in U.S. weekly jobless claims to a 5-week high knocked T-note yields lower and is bullish for equities. In addition, M&A activity supports equities after Tapestry agreed to acquire Capri Holdings for $8.5 billion.

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