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U.S. stock prices moved higher last week as markets shrugged off a downbeat GDP report in hopes that economic contraction may slow the Fed's aggressive hiking cycle.

U.S. stock prices recorded another week of solid losses despite some early-week strength as market volatility continued. The S&P 500 returned -5.04% as markets turned south Thursday afternoon and into Friday as investors grappled with a hotter-than-expected inflation reading and upcoming monetary tightening in Europe.

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