Dow posts highest close in nearly 2 years, equities extend rally to five straight weeks

U.S. stocks powered higher on Friday, shrugging off tough talk from Federal Reserve Chairman Jerome Powell about it being too early to talk about rate cuts. The Dow Jones Industrial Average DJIA, gained about 294 points, or 0.8%, ending near 36,245, according to preliminary FactSet data. The S&P 500 index SPX, rose 0.6%, while the Nasdaq Composite Index COMP, gained 0.6%. All three indexes also ended the week higher for five straight weeks. The gains allowed the Dow to clinch its highest close since since January 2022, while the S&P...