Stocks traded higher on Friday, shaking off losses from earlier this week. Investors considered the latest batch of earnings and economic data and continued to contemplate the path forward for monetary policy.
The S&P 500 rose for the day, but still posted a weekly decline for the first time in three weeks. Both the Nasdaq and Dow also moved to the upside during Friday’s session.
Traders this week have watched a number of market concerns unfold, with infections related to the Delta variant continuing to climb and the Federal Reserve suggesting in its latest meeting minutes that officials believed the economy might recover enough by the end of the year to warrant a shift in their massive asset purchase program. New weekly jobless claims fell more than expected to a fresh pandemic-era low, signaling a notable step forward in the labor market’s recovery.
Meanwhile, corporate earnings results have come in mostly robustly, though many…