us stocks booked modest gains friday while advancing for a second week in a row to kick off 2023 the dow jones industrial average djia gained about 112 points or 03 ending near 34302 while the sp 500 index spx rose 04 according to preliminary factset levels the ratesensitive nasdaq composite index comp gained 07 friday while outperforming the week with a 48 gain the dow rose 2 for the week and the sp 500 climbed 27 the best week of gains on a percentage basis in two months according to dow jones market data the rally in stocks has been bolstered by inflation data that continued its retreat the consumerprice index for december was pegged at a 65 annual rate down from a 91 peak last summer investors on friday heard from big banks jpmorgan chase  co jpm and bank of america bac as they kicked off fourthquarter earnings treasury secretary janet yellen also warned top us lawmakers that the government is expected to hit its ceiling for borrowing next week while urging them to suspend or increase the debt limit