US stock indexes closed their best week in two months with a flourish on Friday.

The S&P 500 rose 59.32 points, or one percent, to 5,996.66. The Dow Jones Industrial Average gained 334.70, or 0.8 percent, to 43,487.83, and the Nasdaq composite jumped 291.91 points, or 1.5 percent, to 19,630.20.

The gains were driven by big tech stocks.

All the companies in the so-called Magnificent Seven rose: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla.

Stocks were helped this week by an encouraging report on US inflation , which raised hopes that the Federal Reserve may deliver more interest rate cuts this year.

Despite the latest inflation data, some experts are still bearish about the prospects for more cuts. With the US economy in solid overall shape, "you shouldn't fix what's not broken," Bank of America economists Claudio Irigoyen and Antonio Gabriel said in a BofA Global Research report.

They also pointed to the uncertainties created by "Trumponomics 2.0," amid fears that the new administration's policies could help push up inflation. (AP)