Markets closed higher for the week after a stellar rally Thursday that saw Big Tech stocks soar on the back of weaker-than-expected consumer price index (CPI) data for October. The S & P 500 closed up more than 5% for the week, its best week since June. Bond yields and the U.S. dollar fell, while investors hoped the CPI news could slow the Federal Reserve's pace of interest rate hikes next month. We also received updates related to cost-cutting initiatives at two tech Club holdings: Meta Platforms (META) announced its laying off more than 11,000 employees and reduced its expense outlook. Meanwhile, Club holding Amazon (AMZN) is reportedly conducting a broad cost-cutting review , according to The Wall Street Journal. While we aren't out of the woods – geopolitical challenges persist, while inflation and the dollar still remain at multi-decade highs – this week's updates certainly provide cause for optimism. But we think more data is needed before the Fed is able to tone down its hawkish commentary on rates. Given the magnitude of the rally, we provided a rapid-fire update on all 32 stocks in our portfolio.