US stocks weekly: Bond blitz
SPY•The S&P 500 rose 1.2% for the week, ending a two-week losing streak; the Nasdaq Composite gained 2.1% and the Dow rose 0.3%. The 10-year Treasury yield finished around 5.16% as economic data and higher oil prices revived inflation worries.
1. Stocks rebound
The S&P 500 climbed 1.2% in volatile trading, while the Nasdaq Composite rose 2.1% and the Dow gained 0.3%. Technology advanced 3.1%, and the semiconductor index rose 6.3%; Financials fell 1.6%.
2. Yields and sectors
The 10-year Treasury yield vaulted to finish around 5.16% as bullish economic data and rising oil prices fueled fresh inflation worries. Energy led year-to-date sector gains at 38.4%, while Utilities were down 7.4% and Consumer Discretionary was down 5.0%.
