A sharp slowdown in economic growth propelled stocks higher Friday as the government’s latest gross domestic product reading fed hopes for an end to interest rates hikes, the Associated Press reports. The major indexes finished the week with a solid advance.

Investors bid shares higher after the Commerce Department said GDP growth tailed off by more than half to a 2.5 percent annual rate during the second quarter. The weaker-than-expected reading reinforced beliefs that the Federal Reserve may not need to hike interest rates further.

According to preliminary calculations, the Dow gained 119.27, or 1.07 percent, to 11,219.70. The Dow jumped 230 points on Monday and Tuesday, and posted its best weekly point gain since May 2005. Broader stock indicators also advanced. The Standard & Poor’s 500 index added 15.35, or 1.22 percent, to 1,278.55, and the Nasdaq composite index climbed 39.67, or 1.93 percent, to 2,094.14.

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Today’s Winners & Losers

Move Inc. gained 7 percent to close at $4.43 while Ixia rose 6.8 percent to close at $9.27 and Hot Topic Inc. finished the day up 6.7 percent to close the week at $14.55 a share.

On the other end were Health Net Inc., which lost 5.4 percent and closed at $41.89. Hi-Shear Technology Corp. lost another 3.8 percent and closed at $11.68 while Sport Chalet lost 3 percent to finish the week at $8.05.