Stocks soar to their best week since summer as investors pin their hopes on the worst of inflation being over

Wall Street piled more gains Friday onto its mammoth rally from a day earlier to close out its best week since the summer. The S&P 500 rose 0.9% a day after soaring 5.5% for its best day in more than two years. Hopes for more growth from China helped not only stocks but also oil prices to rise. The main reason for this week’s euphoria in markets was a report on Thursday showing inflation in the United States slowed by more than expected. The hope for markets is that a softening in inflation could mean the Fed will hold the line at a lower, less painful level for investors than it would have otherwise. The Fed has said preventing such a doom loop is one of the reasons it’ . . .