US STOCKS-S&P 500, Dow climb for third day and close at records – Reuters

US STOCKS-S&P 500, Dow climb for third day and close at records – Reuters

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)* Growth stocks set to outperform value for the second week* Honeywell gains as brokerages raise price targets* March PPI above expectations (New throughout, updates prices, market activity and comments to close)April 9 (Reuters) - The S&P 500 and the Dow rose on Friday to close at record highs, posting a third straight weekly rise partly on lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week.”Growth names have found their footing over the past two weeks after being outperformed by value stocks for most of the year. A pullback in the 10-year U.S. Treasury yield from a 14-month high hit in late March encouraged buying in growth.Data showed U.S. producer prices increased more than expected in March, bringing the largest annual gain in 9-1/2 years.Many investors now expect higher inflation as vaccine rollouts help the U.S. economy rebound from coronavirus-fueled lockdowns, yet stocks showed little concern as the Federal Reserve has maintained it will allow inflation to overshoot its target.“This is why all week long (Powell) was jawboning, he made sure everyone