US stocks weekly: Bond blitz
SPY•The S&P 500 rose 1.2% for the week, ending a two-week losing streak, while the Dow gained 0.3% and the Nasdaq Composite climbed 2.1%. The 10-year Treasury yield finished around 5.16% as economic data and rising oil prices renewed inflation concerns.
1. Stocks rebound
The S&P 500 snapped a two-week losing streak, rising 1.2% in volatile trading. The Dow eked out a 0.3% gain, and the Nasdaq Composite rose 2.1%.
2. Technology leads
Technology stocks advanced 3.1%, and the semiconductor index gained 6.3%. Advanced Micro Devices rose to a record, while Meta Platforms climbed as analysts cited momentum in downloads of its Muse AI agent.
3. Yields and sectors
The 10-year Treasury yield finished around 5.16% as bullish economic data and higher oil prices sparked fresh inflation worries. Financials fell 1.6%; consumer discretionary dipped 0.5%, while communication services rose 2.1%.
