(Reuters) – The New York Stock Exchange ended higher on Friday, supported by comments deemed encouraging by Jerome Powell on the inflation front which pushed the S&P 500 to a closing level not seen since the start of the year .

The Dow Jones index gained 0.82%, or 294.61 points, to 36,245.50 points. The broader Standard & Poor’s 500 gained 26.83 points, or 0.59% to 4,594.63 points. The Nasdaq Composite advanced 78.81 points (0.55%) to 14,305.032.

Over the week, the Dow Jones gained 2.4%, the S&P 500 advanced 0.77% and the Nasdaq gained 0.38%.

The risks that the Federal Reserve will tighten interest rates too much and the risks that rates will not be high enough to bring inflation back to target are currently “more balanced,” Fed Chairman Jerome said Friday Powell, in comments which also emphasize the caution that the central bank will have to show for its next decisions.

In terms of values, Tesla lost 0.5%, with investors deeming the prices announced for the Cybertruck, the American brand’s electric pick-up, too high.

Alibaba, lost -1.19% after Morgan Stanley lowered its recommendation.

On the oil market, WTI stood at .28 (-2.20%) and Brent at .07 (-2.21%).

The dollar was down -0.27% against a basket of currencies a few minutes after Wall Street closed, while the euro stood at $1.0877 (-0.08%).

On the bond market, ten-year paper [US10YT=RR] lost 14.3 basis points to settle at 4.207%. His counterpart at five [US10YT=RR]fell 16.1 basis points to 4.137%.

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