NEW YORK: Wall Street stocks shrugged off early weakness and advanced Friday, adding to weekly gains following data showing further ebbing of US inflation.
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The gains came despite a brief inversion near the end of the session of yields on the two- and 10-year Treasury notes, a harbinger of past recessions and a trigger for a major selloff earlier this month.
After a bruising start, US stocks gradually pushed higher throughout the day while Treasury yields recovered from their lows. Two of the three major indices finished in positive territory.
U.S. stocks gained on Friday, ahead of a long Memorial day weekend, after U.S. President Donald Trump predicted a swift end to the ongoing trade war with China.
U.S. stocks edged lower on Thursday after a recent run of gains, pressured by weak economic data and a drop in healthcare shares, while investors kept a close watch on U.S.-China trade talks.