Story thread · 2 reports / 2 sources

US stocks: US market rebounds, but yield surge sets stage for weekly losses

economictimes.indiatimes.com · 1dShare

Wall Street’s major indexes climbed higher on Friday, a day after witnessing heavy losses, even as they were poised for a lower finish for the week amid pressure from rising government bond yields and lingering geopolitical uncertainty, Reuters reported.The S&P 500 and technology-focused Nasdaq were on course to break a run of three consecutive weekly gains. The Dow, meanwhile, was set to record its second weekly loss in a row and its biggest weekly decline since mid-March.Financial companies were the strongest contributors to Friday’s advance. JPMorgan Chase gained 1.2%, Goldman Sachs climbed 2.3%, and the S&P 500 Banks index rose 1.1%.Robinhood shares surged 12.4% while cryptocurrency exchange Coinbase Global advanced 9.5%. Strategy, a major corporate holder of bitcoin, gained 7.4% as the cryptocurrency reached its highest level since late May.Most megacap and growth companies traded higher, with Meta and Tesla each rising more than 1%. Even so, technology stocks were heading for a w

First report: S&P 500 and Nasdaq set for first weekly loss since late July — finance.yahoo.com, 1d