Dow jumps 600 points as market comeback this week gains steam

Key Facts

• Stocks jumped Friday as Wall Street looked to grind out a rare positive week in what has been a rough first half of the year.
• Major averages hit their highs of the session after a consumer sentiment reading closely followed by the Federal Reserve showed a slight easing of inflation expectations.
• While on the surface that is not positive for the market, investors liked a figure inside the report which showed 12-month inflation expectations by consumers easing back to 5.3%. A preliminary reading earlier this month that was pivotal in influencing the Fed to get more aggressive with its rate hike showed inflation expectations at 5.4%. STOCK PICKS AND INVESTING TRENDS FROM CNBC PRO: On the corporate front, shares of FedEx surged 9% despite a mixed fourth-quarter report after the logistics company delivered an upbeat earnings forecast.
• Among the biggest changes will be the additions of tech companies such as Meta and Netflix to the Russell 1000 value index after their stock tumbles this year.

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