Stocks on Wall Street bounced back on Friday and the market closed out its fourth straight winning month with solid gains as all major inidices recorded positives.
The S&P 500 rose 1% to finish August with a gain of 2.3%. The Nasdaq added 1,1%, the Dow Jones Industrial Average rose 228 points or 0.6% and set another all time high.
An inflation meaure closely tracjed by the Federal Reserve remained low last month, keeping the Central Bank on tracl to cut rates at its coming meeting.
Chipmakers were broadly higher, led by Marvell Technology, which climbed 9.2% after hitting Wall Street’s saled anad profit targets.
