The S&P 500 and the tech-heavy Nasdaq snapped three-week winning streaks, while the Dow registered its second consecutive weekly loss. Equity investors have been taking their cues from the direction of US government bond yields in recent sessions as the prospect of higher borrowing costs dampened risk appetite.
Stocks had closed lower on Thursday as bond yields rose while equities had advanced on Wednesday as bond yields fell. US Treasury Secretary Scott Bessent said on Thursday that the government could further increase its Treasury repurchases after a surprise announcement on Wednesday that it would spend double the expected amount on bond buybacks.
The Dow Jones Industrial Average rose 0.98 percent to 53,277, the S&P 500 gained 0.43 percent to 7,674 and the Nasdaq Composite gained 0.44 percent to 26,180.
For the week, the S&P 500 fell 1.43 percent, the Nasdaq declined 2.05 percent, and the Dow fell 0.85 percent. (Reuters)
