US stocks rebound Friday but post weekly losses as Treasury yields climb

U.S. stocks recovered Friday after a sharp selloff linked to rising Treasury yields, but major indexes still posted weekly losses. The S&P 500 rose 0.43% Friday and fell 1.4% for the week, while the Nasdaq Composite gained 0.43% Friday and declined 2%; the Dow added 517.80 points, or 0.98%, but fell 0.9% for a second consecutive weekly decline. Morningstar’s US Total Market Index fell 1.48% in the trading week ended Aug. 21, with industrials down 4.23% and utilities down 3.65%, while healthcare rose 4.19% and energy gained 2.39%. Longer-dated Treasury yields remained a concern, with the 10-year yield rising to 4.74% from 4.68% and the 30-year yield reaching about 5.27%. West Texas Intermediate crude rose 5.15% to $86.64 per barrel and Comex gold gained 5.38% to $4,609.20. Financial and materials shares supported Friday’s rebound, healthcare helped the Dow, and crypto-related equities rallied as Bitcoin gained 22% for the week. Investors were watching Federal Reserve Chair Kevin Warsh’s speech at the following week’s Jackson Hole Economic Policy Symposium for interest-rate signals. Benzinga’s weekly stock roundup highlighted results and developments involving Ross Stores, Webull, Berkshire Hathaway, Moderna, Nvidia and WhiteFiber.

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US stocks rebound Friday but post weekly losses as Treasury yields climb - CoinPost Terminal