Stocks rose Friday as a rally from Thursday spilled into the session on October's CPI report showed slowing inflation, renewing hopes that the Federal Reserve will soon ease its aggressive rate hiking campaign. The Dow Jones Industrial Average gained 0.1%, while the S&P 500 and Nasdaq Composite added 0.9% and 1.9%, respectively.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): +0.92% or +36.56 points to 3,992.93

Dow Jones Industrial Average (DIA  ): +0.10% or +32.49 points to 33,747.86

Nasdaq Composite Index (QQQ  ): +1.88% or +209.18 points to 11,323.33

On Thursday, the Dow jumped more than 1,200 points, while the S&P 500 climbed 5.5% and the Nasdaq rose 7.4% as investors poured back into riskier growth stocks. Driving the rally, October's CPI rose 7.7% at an annual rate and gained 0.4% month-over-month. Excluding more volatile energy and food prices, core-CPI rose by 6.3% year-over-year and 0.3% on a monthly basis.

All major indexes posted a winning week by Friday's close. The Dow added 4.1% and the S&P 500 gained 5.9%. The Nasdaq Composite outperformed on tech's impressive rally, rising over 8% for the week. The week also marked a resumption of Wall Street's bear market comeback rally, which began in mid-October.

The tech sector in the S&P 500 surged 10% on Friday, with stocks like Amazon (AMZN  ) rising over 4% and Alphabet (GOOGL  ) up nearly 3%.

Tech stocks on Friday recovered after opening lower on more turmoil out of the cryptocurrency market. On Friday, FTX announced it was filing for bankruptcy after its last-minute deal with Binance fizzled out earlier in the week. Billionaire Sam Bankman-Fried also resigned as CEO and is reportedly under investigation by the U.S. Securities and Exchange Commission (SEC).

However, JPMorgan (JPM  ) analysts wrote in a note Friday that crypto's 'short-term' setback caused by FTX's collapse could be good for the industry in the long run.

"While this is certainly a major short-term setback, we see the widely publicized collapse of FTX as potentially dramatically accelerating the timeline to which crypto-related regulation will be ushered in (similar to new banking regulation which followed the global financial crisis)," the note said.

Meanwhile, the University of Michigan's preliminary reading on its consumer sentiment survey for November declined to 54.7 from 59.9 in October, marking its lowest reading since July. Beneath the headline, consumers' current economic conditions index fell 11.9% to 57.8 and consumers' six-month expectations index declined 6.2% to 52.7.