Wall Street Ends Eighth Winning Week, Inflation Slows Down

Nike's Q2 earnings beat expectations but sales miss, while AlloVir's shares plummet following clinical trial update.

Wall Street capped its eighth straight winning week with a quiet finish Friday, with the S&P 500 rising 0.2%, the Dow Jones Industrial Average slipping less than 0.1%, and the Nasdaq composite edging 0.2% higher.
The measure of inflation the Federal Reserve prefers to use slowed by more than economists expected, down to 2.6% in November from 2.9% a month earlier.
For the year, the S&P 500 is up 23.8%, the Dow is up 12.8%, the Nasdaq is up 43.2%, and the Russell 2000 is up 15.5%.
Nike reported better-than-expected earnings for its second quarter, but sales missed expectations with revenue of $13.39 billion, missing the Street's estimate of $13.43 billion.
AlloVir's shares dropped 66% after the company provided an update on its three Phase 3 clinical trials with posoleucel, an investigational off-the-shelf multi-virus-specific T cell therapy.