The Dow Jones Industrial Average gained 391 points, or 1.1%, to close at 34,283.10. Stocks closed higher on Friday, with all three major indices notching weekly gains. 'Still, economic growth will likely slow in the months ahead and further improvements in inflation will probably be more incremental.'Ĭorrection: An earlier version of this story misstated the Federal Reserve's stance on monetary policy. 'A continued high level of unfilled job openings and solid private sector balance sheets support our view for a 'softish' economic landing,' UBS' David Lefkowitz wrote in in a Friday note.
Recent volatility notwithstanding, a resilient economy has helped equities even as investors remain uncertain about the Fed's timeline around rate policy, according to UBS.
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