This week, Federal Reserve officials will debate how much further to raise interest rates, based on their expectations for how much the economy will slow down this year.

The market's resurgence in 2023 has been a major setback for short sellers.

The Commerce Department reported on Friday that consumers spent less in December, even as an inflation measure considered key by the Federal Reserve showed the pace of price increases easing.

U.S. stocks rose Friday, boosted by hopes that inflation is moderating. This put them on track for strong weekly gains.

Treasury yields rose Thursday after the fourth quarter gross domestic product report was better than expected.