Markets Surge as Stocks Rally, Ending Week on a High Note Amid Economic Concerns

stock market rally

Stocks soared on Friday, marking another week of gains. This rally followed a brief pause after Federal Reserve Chair Jerome Powell’s hawkish remarks and a rise in bond yields halted the longest winning streak for the S&P 500 Index and Nasdaq Composite Index in two years.

Leading the surge, the Nasdaq Composite Index jumped over 2%, recording its best performance since May 26. The S&P 500 Index also saw a significant rise of approximately 1.6%. Meanwhile, the Dow Jones Industrial Average advanced by 1.1%, adding around 400 points.

This uplift has pushed the Dow, S&P 500, and Nasdaq to their highest levels since mid-September, despite fresh data indicating growing consumer concerns about the U.S. economy and rising long-term inflation expectations, unseen since 2011.

Bond yields experienced a downturn after Thursday’s spike. The key 10-year yield edged down, trading near 4.63%.

In the commodities market, oil prices increased for the second consecutive session following a recent dip to a three-month low amid global demand worries. West Texas Intermediate crude oil futures climbed above $77 per barrel, and Brent crude oil futures concluded above $81.50 per barrel.

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