U.S. stocks rose on Friday, though the major indexes still headed for steep weekly losses as concerns over the resilience of corporate profits in the face of inflation resurged this week.
The S&P 500 advanced by about 0.8% just after the opening bell, following equities in Asia and Europe higher after China’s central bank unexpectedly cut a benchmark interest rate to offer some relief to borrowers in the country still grappling with a widespread COVID-19 outbreak.
The Dow rose by more than 150…
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