Nasdaq, S&P rise 2.09 pct. on inflation news

Nasdaq, S&P rise 2.09 pct. on inflation news

Markets got great news this week on inflation, said Dec Mullarkey, managing director of investment strategy and asset allocation at SLC Management in Boston.

A victory lap in some respects was in order, but it is not a'mission accomplished' by any means. Mullarkey said that it's still a very slow grind ahead.

The Nasdaq Composite led the way percentage-wise with 267.27 points or 2.09 percent gain to 13,047. The Standard and Poor's 500 rose by 71.88 points or 1.73 percent to 4,280. The Dow Jones industrials fell by 424.38 points, or 1.27 percent, to 33,761. The U.S. dollar was mostly stronger on Friday. The euro fell to 1.0265, approaching New York on Friday. The British pound was down to 1.2138. The Swiss franc was unchanged at 0.9417. The Japanese yen fell by a tad to 133.47.

The Australian dollar was a fraction higher at 0.7126. In German, the Dax gained 0.74 percent over the course of the day. The Paris-based CAC 40 rose 0.14 percent. London's FTSE 100 added 0.47 percent.

In Japan, the Nikkei 225 increased 727.65 points or 2.62 percent to 28,546. The Australian All Ordinaries slid 36.60 points or 0.50 percent to 7,288. New Zealand's S&P NZX 50 fell 29.49 points or 0.25 percent to 11,730. The Shanghai Composite fell by 4.78 points or 0.15 percent to 3,276 in China. South Korea's Kospi Composite went up 4.16 points or 0.16 percent to 2,527. The Hang Seng in Hong Kong increased by 93.19 points or 0.46 percent to close Friday at 20,175.