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S&P 500 closes above 5,000 for first time as US inflation cools

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S&P closes above 5000

US stock markets hit another historic high on Friday, with the S&P 500 closing above 5,000 for the first time.

The broad-based index of the largest and best-known listed companies has been driven higher by a series of reports underlining the US’s resilient economy and retreating inflation.

On Friday the share index finished at 5,026.61: up 0.6% on the day, and 22% since a rally took hold in late October.

Consumer price growth was even lower than previously estimated in December, according to revised inflation data released on Friday. The US consumer price index rose 0.2% in December, rather than the previously reported 0.3%, the labor department’s Bureau of Labor Statistics said.


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