Federal Reserve Chairman Kevin Walsh delivered a speech that allayed investors' concerns about the central bank's will to fight inflation. The stock market rose on Friday despite traders betting that the probability of interest rate hikes this year will rise. The S&P 500 index rose as high as 0.5%, with non-essential consumer goods and communication services leading the way. The Nasdaq 100 index, which is concentrated in technology stocks, reversed earlier declines, rising 0.3% at 11:20 a.m. New York time; the Dow Jones Industrial Average rose 0.4%. The Chicago Board Options Exchange Volatility Index continued to decline, trading slightly above 14. Oil prices declined as Venezuela considered withdrawing from the Organization of Petroleum Exporting Countries. After Walsh's speech, the major indices left the narrow range of oscillations. The new chairman of the Federal Reserve reiterated that he is not inclined to issue forward-looking guidelines, while stressing that inflation has remained high for a long time.

Federal Reserve Chairman Kevin Walsh delivered a speech that allayed investors' concerns about the central bank's will to fight inflation. The stock market rose on Friday despite traders betting that the probability of interest rate hikes this year will rise. The S&P 500 index rose as high as 0.5%, with non-essential consumer goods and communication services leading the way. The Nasdaq 100 index, which is concentrated in technology stocks, reversed earlier declines, rising 0.3% at 11:20 a.m. New York time; the Dow Jones Industrial Average rose 0.4%. The Chicago Board Options Exchange Volatility Index continued to decline, trading slightly above 14. Oil prices declined as Venezuela considered withdrawing from the Organization of Petroleum Exporting Countries. After Walsh's speech, the major indices left the narrow range of oscillations. The new chairman of the Federal Reserve reiterated that he is not inclined to issue forward-looking guidelines, while stressing that inflation has remained high for a long time.