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Dow rises 150 points as Wall Street looks to close out a winning week

Dow rises 150 points as Wall Street looks to close out a winning week

Dow rises 150 points as Wall Street looks to close out a winning week

The Dow Jones Industrial Average rose on Friday as Wall Street looked to post solid gains during a holiday-shortened trading week.

The Dow Jones Industrial Average rose 155 points, or 0.45%. The S&P 500 gained 0.09% and the Nasdaq Composite fell 0.35%, weighed down by Activision Blizzard shares, which fell nearly 4% on news that The FTC could block Microsoft from acquiring the gaming company.

Concerns about the continuation of the blockade in China kept the markets under control. The country is tightening Covid restrictions after seeing a rise in cases in recent days. Earlier this week, China reported its first death from Covid since May.

Wall Street looks set to close out an upbeat, shortened week after the holidays Federal ReserveThe latest minutes from the meeting added to expectations that monetary policy tightening could slow.

“A significant majority of participants judged that a slowdown in the pace of growth would probably be appropriate soon,” the minutes said.

Stocks jumped on the news on Wednesday, posting a second straight day of gains in a week marked by tense trading and thin volume. For the week, the Dow rose 1.75% and the S&P 500 rose 1.66%. Technically the Nasdaq is lagging the other two indexes, but is still up nearly 1% for the week.

The markets are closed Thursday for the Thanksgiving holiday and will close Friday at 1:00 PM ET.



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