The S&P 500 Index ($SPX) (SPY) Friday closed up by +0.54%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +0.72%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.47%. Stocks posted moderate gains on Friday, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 posting 2-week highs. Speculation that the Fed may cut interest rates by 50 bp at next week’s FOMC meeting supported stocks Friday after former New York Fed President Dudley said there’s “a strong case for a 50 bp rate cut” at next week’s FOMC meeting. According to the swaps market, the chances of a 50 bp rate cut ne…