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Stock Market Finishes the Week with Huge Gains

Stocks surged on Friday despite a sell-off in Amazon (AMZN). Investors were also likely reassured by economic data which indicated that inflation may be slowing down. Core personal consumption expenditures price index rose 0.5% in September from the previous month and 5.1% from a year ago.

The Federal Reserve meets on November 1-2. Markets still expect that the central bank is likely to raise interest rates by 75 basis points for the fourth straight time.

Overall, S&P 500 was up 2.5% to 3,901, while NASDAQ increased 2.9% to 11,102.

Tweet of the Day

Chart of the Day

Our chart of the day is the ten-year chart of Lockheed Martin (LMT) as of October 22, 2022, when the stock was at $455. Today, LMT hit an all-time high after it closed at $485.

Lockheed Martin is one of the largest defense contractors in the world. It operates through four segments: (1) Aeronautics, (2) Missiles and Fire Control, (3) Rotary and Mission Systems, and (4) Space.

LMT is part of the Conservative Growth Portfolio.

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