U.S. stocks were rising as the S&P heads toward another weekly win

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U.S. stocks were rising as the S&P heads toward another weekly win
Credit: © Reuters.

Investing.com -- U.S. stocks were rising as the S&P 500 headed toward another weekly winning streak.

At 10:17 ET (14:17 GMT), the Dow Jones Industrial Average was up 100 points or 0.3%, while the S&P 500 was up 0.6% and the NASDAQ Composite was up 1%.

The S&P has touched a 20% rally from its recent low, exiting a bear market while investors await inflation data and the Fed ’s next decision on interest rates. The move for the S&P marks the start of a new bull market, as defined by some investors.

Both the Nasdaq and S&P have marked new highs for the year in recent days as a better-than-expected season of earnings and expectations for a pause in rate hikes have boosted tech stocks.

Futures traders are betting that the Fed will hold interest rates steady next week, and the latest reading of the consumer price index on Tuesday could help shape expectations.

Shares of Tesla, Inc. (NASDAQ: TSLA ) rose 6.7% after the electric car maker made an agreement with General Motors (NYSE: GM ) to adopt its charging plug standard. That adds to Tesla’s existing agreement reached recently with Ford and helps advance Tesla’s status as the standard for charging plug technology.

Oil dipped. WTI was down 0.1% to $71.19 a barrel, while Brent was flat at $75.94 a barrel. Gold is flat at $1978.

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