Stocks extended their rally this week, with major indexes climbing to new highs as investors welcomed strong corporate earnings and lower-than-expected inflation data, reinforcing expectations of lower interest rates ahead.
The Dow Jones Industrial Average rose by 2.2 percent for the week to close at 47,207, briefly touching a record high on Oct. 24.
The S&P 500 Index climbed by 1.92 percent to 6,791, and the Nasdaq Composite Index advanced by 2.31 percent to 23,204, led by technology shares.
The Russell 2000 outperformed the broader market once again, posting a 2.5 percent gain.
Market volatility eased significantly, as the CBOE Volatility Index—the market’s so-called “fear gauge”—fell by 21.22 percent to 16.37, its lowest level in weeks….