Global stocks finish at record highs, oil prices climb for fifth week
WASHINGTON/LONDON (Reuters) -Wall Street notched broad gains on Friday, with the S&P 500 index closing at a record and global shares also finished at an all-time high, while oil prices rose for a fifth straight week.
Weaker-than-expected inflation data and news that U.S. President Joe Biden has secured a bipartisan infrastructure agreement with lawmakers gave a boost to stocks. The plan is valued at $1.2 trillion over eight years, of which $579 billion is new spending.
The S&P 500 rose 2.7% for the week, its strongest weekly gain since early February as Nike and bank stocks rose, and weaker-than-expected inflation data eased worries about a sudden tapering in stimulus by the Federal Reserve.
