U.S. stocks rebounded Friday after the previous session’s sharp selloff, with the Dow Jones Industrial Average rising 517.80 points, or 0.98%, to 53,277.01. The S&P 500 gained 0.43% to 7,674.37 and the Nasdaq Composite advanced 0.44% to 26,180.46, although all three indexes ended the week lower: the Dow fell 0.85%, the Nasdaq dropped 2.05% and the S&P 500 declined 1.43%. Strong S&P Global flash August PMI data, particularly a 20-month high in services activity, helped revive dip-buying. Treasury yields nevertheless resumed their climb, with the 10-year yield at 4.734% and the 30-year yield at 5.273%. U.S. Treasury Secretary Scott Bessent said the government could expand Treasury buybacks from $2 billion to $4 billion per operation, but UBS said the program changes the maturity structure of debt rather than reducing the amount investors must absorb. Bitcoin rose 6.4% toward $77,000, lifting crypto-related stocks, while oil gained for a sixth straight session as tensions involving Iran continued to threaten shipping through the Strait of Hormuz. Investors next await July’s Personal Consumption Expenditures price index and Fed Chair Kevin Warsh’s remarks at the Jackson Hole global central bank symposium.