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US stocks set new records as Delta variant worries remain

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US stocks rallied to record highs on Friday, rebounding from Thursday's selloff.

The Dow closed 1.3% higher, or 448 points, while the S&P 500 rose 1.1%. The Nasdaq Composite was up nearly 1%.

On Thursday, news about the spread of the COVID-19 Delta variant weighed on the market, as did concerns of bond market wonkiness -- the 10-year US Treasury yield fell to its lowest rate since February. That tumult combined to knock stocks off their record highs. The bond market also reversed itself from Thursday's close: The 10-year Treasury yield bounced back to 1.36% around the time of the stock market close.

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