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Stocks close higher, clawing back much of the week's losses in major recovery from Monday's sell-off

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Pia Singh is an associate reporter covering markets and investing trends for CNBC.com and CNBC Pro. She previously reported for The Wall Street Journal. Pia is a graduate of the University of Pennsylvania, where she was the Executive Editor of The Daily Pennsylvanian.

Stocks ticked up Friday as the stock market built on its incredible comeback from Monday’s violent rout. The broad market index ended the week just shy of completely reversing its weekly losses. The S&P 500 advanced 0.47% to finish at 5,344.16. The Nasdaq Composite added 0.51% to close at 16,745.30. The Dow Jones Industrial Average inched up 51 points, or 0.13%, to end at 39,497.54. Week to date, the broad market index was just 0.04% lower.

At the Monday lows, the S&P 500 was down nearly 10% from its recent all-time high. The Nasdaq Composite’s pullback reached full-fledged correction territory of beyond 10%. The Cboe Volatility Index — used by Wall Street to measure fear — reached heights last seen during the onset of the Covid-19 pandemic and the Great Financial Crisis. But investors stepped in to buy the dip on the notion another crisis or recession was not on the horizon.

 

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