The Standard & Poor's 500 index rose 1.5% this week, supported by gains in the technology and materials sectors and better-than-expected quarterly results.

The market benchmark ended the week at 6,114.63. This marks the S&P 500's first weekly gain since the week ended Jan. 24. The index is now up 1.2% for February and 4% for the year to date.

Closely watched inflation figures came in slightly above expectations. The US seasonally adjusted consumer price index rose by 0.5% in January, above expectations for a 0.3% increase. The US Producer Price Index rose by 0.4% in January, above the 0.3% increase expected.

Other data showed retail sales in the US fell 0.9% last month, larger than an expected 0.2% drop, amid declines in most categories, including the motor vehicle component.

Better-than-expected quarterly results from companies including CVS Health (CVS), Airbnb (ABNB) and MGM Resorts International (MGM), however, helped boost investor sentiment.

The technology sector had the largest percentage gain of the week, up 3.8%, followed by a 2% advance in communication services and a 1.8% rise in materials. Consumer staples, energy and utilities were also up by more than 1% each.

Super Micro Computer (SMCI) jumped 32%, marking the largest percentage increase in not only the technology sector but the overall S&P 500 for the week. The company cut its fiscal 2025 revenue guidance but forecast sales for fiscal 2026 well above analysts' expectations at the time. The server maker also said it expects to submit its delayed financial reports from fiscal 2024 in time to avoid being delisted.

Also boosting the technology sector, Intel (INTC) shares climbed 24% amid comments from US Vice President JD Vance that the "most powerful" artificial intelligence systems will be built in the US.

In communication services, T-Mobile US (TMUS) shares climbed 10% after the company said it has launched its satellite-powered T-Mobile Starlink service in beta mode. The service is a collaboration between T-Mobile and SpaceX's Starlink that uses satellite and mobile communications technology to maintain connectivity across areas not covered by cell phone towers.

In the materials sector, DuPont (DD) shares rose 9.9% as the company posted Q4 adjusted earnings and net sales above analysts' mean estimate. In addition, DuPont forecast Q1 adjusted EPS above the Street view.

Just two sectors recorded weekly declines: Health care shed 1.1% and financials edged down 0.1%.

West Pharmaceutical Services (WST) shares fell 33%, representing the largest percentage drop in the health care sector and the overall S&P 500. The company reported Q4 adjusted earnings and revenue above analysts' mean estimates but forecast full-year results below Street views.

The US stock market will be closed on Monday for Presidents Day.

Later in the week, quarterly results are expected from Walmart (WMT), Alibaba Group (BABA), Booking Holdings (BKNG), Arista Networks (ANET), Medtronic (MDT) and Analog Devices (ADI).

Economic reports will be heavy on housing data, including the February home builder confidence index, January housing starts and building permits, and January existing home sales.