A late wave of buying sent stocks to solid gains on Wall Street Friday, sending the S&P 500 to another record high.

The benchmark index rose 1% and closed out its best week since February.

Technology stocks powered much of the gain. Business software maker Oracle surged 15.6% after reporting strong results in its latest quarter.

The gains came after the government reported another big rise in inflation last month, but markets were relieved to see that the report was in line with expectations.

Consumers prices jumped 6.8% in November compared with a year earlier, the most in four decades.