U.S. stocks weekly: Yield breather
SPY•The S&P 500 rose 1.2% in choppy trading, while the Dow gained 0.9% and the Nasdaq Composite rose 0.6%. The 10-year Treasury yield was poised to end near 5.24%, snapping a five-week run of advances.
1. Stocks and yields
The S&P 500 rose 1.2% for the week after its breakout faced a test, while the Dow added 0.9% and the Nasdaq Composite gained 0.6%. The 10-year Treasury yield was poised to snap five straight weeks of advances and finish around 5.24%, as note and bond auctions helped soothe inflation jitters.
2. Sector moves
Consumer Staples gained 4% and Utilities rose 3.9%, the strongest sector performances. Energy climbed 3.6% alongside higher oil prices, while Technology slipped 0.3% and Industrials fell 0.4%. The semiconductor index dropped 4.3%.
3. Other market signals
Small caps rallied into Friday’s close but ended at 2,807, down for a fifth straight week. Investor pessimism eased, and equity exposure in September reached its highest level since December 2017.
