News

U.S. Stocks Show Resilience with Strong Rebound

1 Mins read

U.S. stocks bounced back on Friday, recovering from a break in the S&P 500’s longest winning streak in two years.

The Dow Jones Industrial Average (DJIA) closed approximately 391 points higher on Friday, representing a 1.2% increase and reaching around 34,283, according to preliminary data from FactSet. Meanwhile, the S&P 500 index gained 1.6%, and the Nasdaq Composite Index advanced 2.1%.

Treasuries Yield Pullback Boosts Market Rally

The surge in stock prices was driven by a retreat in the 10-year Treasury yield, which decreased from 4.614% to 4.627% as of 3 p.m. Eastern. Despite the pullback, the treasury yield still recorded a weekly advance.

Fed Poses Caution, Yet Stocks Continue to Grow

Federal Reserve Chairman Jerome Powell’s remarks on the need for higher rates to control inflation temporarily dampened the equity rally. However, stocks managed to rally nevertheless.

Weekly Performances

The S&P 500 achieved a weekly gain of 1.3%, while the Dow experienced a 0.7% rise and the Nasdaq advanced by 2.4%. This marked back-to-back weekly wins for all three equity indexes.

Related posts
News

Banking Regulations for Preventing Failures

2 Mins read
Banking regulators have the power to prevent future bank collapses, according to a panel of banking experts who emphasized the importance of…
News

Dave's Strong Q4 Performance

1 Mins read
Shares of Dave surged on Tuesday following the digital bank’s announcement of a profitable fourth quarter earlier than expected, with a positive…
News

DaVita Expands in Latin America

1 Mins read
Shares of DaVita reached record levels as the kidney care services company announced its significant expansion into Latin America through a $300…

Leave a Reply

Your email address will not be published. Required fields are marked *

+ 58 = 59