How major US stock indexes fared Friday, 9/13/2024

U.S. stocks rose closer to their records and closed out their best week of the year as hopes built for a big rate cut next week. The S&P 500 rose 0.5% Friday to climb within 0.7% of its all-time high reached in July. The Dow Jones Industrial Average added 0.7%, and also traded close to its own record high. The Nasdaq composite rose 0.7%. Stocks got support from the bond market, where Treasury yields eased ahead of next week’s meeting of the Federal Reserve. Traders are rekindling hopes the Fed may deliver a bigger-than-usual cut to interest rates.