Stocks are closing higher on Wall Street, giving the S&P 500 its first 4-week winning streak since November. The benchmark index gained 1.7% Friday, and other indexes also rose. Technology stocks drove much the rally. Energy companies lagged the market as crude oil prices fell. Inflation cooled more than expected last month, sending stocks higher. Investors see a higher chance inflation may have peaked, allowing the Federal Reserve to be less aggressive with its rate hikes than it has been this year.
