Investors reacted positively to the Federal Reserve showing a slightly more dovish stance on monetary policy and an uptick in the unemployment rate, resulting in back-to-back weekly gains for most markets.

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Despite a weaker than expected GDP report and another upside inflation surprise, a sharp rally in tech stocks lifted U.S. equity markets to the best weekly performance since last October.

U.S. stocks fell a third consecutive week as investors struggled to shake off diminished views of Fed rate cut expectations and geopolitical volatility in the Middle East. The S&P 500 closed out a rough week with its worst weekly performance in over a year.