A rough week on Wall Street dominated by worries about a weakening economy ended Friday with a broad rally that gave the market its best day in two weeks.

The S&P 500 rose 1.9 percent. Despite the gains, the benchmark index still ended with its first weekly loss in the last three. The Dow Jones Industrial Average rose 1 percent and the Nasdaq composite closed 2.7 percent higher.

Technology and communication services stocks powered much of the gains as investors cheered another big quarterly surge in Netflix’s subscribers. Remarks from a Federal Reserve official also helped build hope among investors that the central bank may decide to slow its pace of interest rate hikes as soon as next month.

The major indexes started the week in the red largely because of worries that the economy may not be able to avoid a scarring recession. Several reports on the economy came in weaker than expected, as the full weight of the Federal Reserve’s hikes to interest rates last year start to make their way through the system.

Not long ago, bad news on the economy was often perversely good news for Wall Street. That’s because investors took it to mean the Fed may ease up on its rate hikes. But bad news on the economy is increasingly becoming bad news for Wall Street, too, which is worrying more about the prospects of a serious recession.

Making things more complicated, several Fed officials through the week kept pounding the message that they’ll likely hike rates further and then hold them there a while to make sure the nation’s high inflation is really crushed.