U.S. stocks drifted higher on Friday to log gains across the board, capping the final full trading week of 2022.
When the closing bell rang on Wall Street, the S&P 500 (^GSPC) rose 0.6%, the Dow Jones Industrial Average (^DJI) rose 0.5%, while the technology-heavy Nasdaq Composite (^IXIC) gained 0.2%.
The U.S. stock and bond markets will be closed on Monday, Dec. 26, in observance of the Christmas holiday.
With Friday's move, the S&P 500 and Dow managed to stave off losses for the week, while the Nasdaq fell around 1.5%. Still, markets are on pace to finish off the worst year for equity markets since 2008 as the trading year wraps up on Friday, December 30.
Oil prices ascended Friday and paced toward a big weekly gain as investors expected a drop in supply of Russian crude.
WTI crude oil settled up 2.77% on Friday at $79.64 a barrel. For the week, WTI gained more than 6% after hitting lows for the year earlier this month.
U.S. Treasury yields inched higher, while the U.S. dollar index retreated against a basket of other currencies.
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