The major averages were higher to end the week, rebounding from a rough two weeks following better than expected inflation data out the last five days. The Dow Jones Industrial Average rose 96 points, or 0.24%. The S&P 500 rose 11 points or 0.2% while the Nasdaq rose 37 points or 0.2%.

This week was about the bond market and inflation data. The yield on the 10-year Treasury fell 3 basis points to 3.89%. The 2-year Treasury yield fell 3 basis points to 4.%. Better than anticipated Producer Price Index and Consumer Price Index go the rally started earlier in the week. Yesterday, retail sales data and the weekly jobless claims showed no signs of an impending recession.

On the earnings front today, H&R Block was a diamond, up 11% on better than expected earnings and sales. H&R Block also announced a 17% dividend increase and a $1.5 billion share buyback. H&R Block has been using AI and human tax assistance to bolster profits and cash flow.

For the quarter, 93% of S&P 500-listed firms have posted results with 78% have surpassed Wall Street's expectations.

The rally in tech today was subdued in part to Applied Materials lower by 2% on earnings. The earnings were better than expected as revenues rose 5% to $6.78 billion. But guidance was disappointing as many investors expected them to raise guidance. All the chip equipment makers were lower today as the chip stocks were mixed. Nvidia was up a percent.

Among the big cap techs, Cisco Systems rose 2% continuing its rally following strong earnings the other day. Google and Apple were modestly higher as Meta and Microsoft were lower.

Most sectors were quiet today.

For the week, the S&P 500 added nearly 4%, which puts the broad market index on track for its best week since November 2023 and only 2% from all-time highs. The Nasdaq rose 5.2% while the Dow advanced nearly 3%.

On the week, Nvidia was one of the biggest winners up more 18%. Apple and Microsoft advanced 4% and 3%, respectively.