US stocks closed higher on Friday, with the Dow Jones Industrial Average rising 0.98%, or 518 points, and outperforming the S&P 500 and Nasdaq Composite, which each gained 0.43%. The S&P 500 snapped a three-session losing streak. Industrial and financial shares led the advance, while technology stocks were relatively subdued. Stocks were supported by data showing US business activity grew at its fastest pace in more than four years, positive corporate earnings, stable oil prices, little movement in bond yields and Federal Reserve officials’ comments suggesting a possible pause in interest-rate increases. Data indicating that inflation pressures were gradually easing also reinforced hopes for a soft landing, meaning slower inflation without a severe recession. Investors continued to assess inflation and fiscal concerns, a recent surge in bond yields and the dollar’s extended decline. Upcoming employment, consumer sentiment and consumer spending data could influence volatility and the rally’s durability.