S&P 500 posts best day in 6 weeks Friday, stocks cement big weekly gains as 10-year Treasury yield edges lower

U.S. stocks rose sharply Friday to book big weekly gains, shrugging off earlier weakness as Treasury yields eased back from their highs of 2023. The S&P 500 index SPX, +1.61% rose about 1.6% on Friday, its best daily percentage gain since Jan. 20, according to FactSet data. The Dow Jones Industrial Average DJIA, +1.17% gained 1.2%, or about 386 points, ending near 33,386, based on preliminary figures. The Nasdaq Composite Index COMP, +1.97% rose 2%. The 10-year Treasury rate TMUBMUSD10Y, 3.

964% rose 14 basis points for the week, but was slightly below the 4% mark at 3.962% on Friday at 3 p.m. Eastern. That compares with a 2-yr Treasury yield TMUBMUSD02Y, 4.871% of 4.859%, reflecting continued investor jitters around how high the Federal Reserve may need to increase its short-term policy rate to cool demand and still stubbornly high U.S. costs of living.

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U.S. stocks finish mostly lower, S&P 500 books back-to-back losses amid rising Treasury yieldsU.S. stocks closed mostly lower Wednesday as Wall Street began March on a downbeat note. The Dow Jones Industrial Average edged up less than 0.1% to close about flat:
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