The S&P 500 index posted a 4.5% gain this week in spite of some horrible economic reports, marking its third consecutive weekly gain.

The S&P 500 index posted a 2.1% loss this week, marking its fifth consecutive weekly loss and putting the market benchmark on track for its largest monthly loss in three and a half years.

Data released Wednesday showed US producer prices rose at the fastest pace in seven months in February amid notable spikes in wholesale costs of food and energy,