U.S. stocks closed higher Friday, with the Dow Jones Industrial Average rising 0.98%, the S&P 500 gaining 0.43% and the Nasdaq Composite advancing 0.43% to end a five-session losing streak; the VIX fell 5.5%. Business activity expanded at its fastest pace in more than four years, while Tempus AI, SoundHound AI, Snowflake, Palantir and EPAM led technology gains. All major indexes still declined for the week as Treasury yields swung sharply and Middle East tensions intensified. Investors next face new U.S. sanctions on Iran, Federal Reserve Chair Kevin Warsh's first Jackson Hole speech, July core PCE inflation data and Nvidia earnings. Gold topped $4,600 an ounce and Brent crude approached $100 as oil flows through the Strait of Hormuz nearly stopped.