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Wall Street indices rose sharply on Friday after an up-and-down week


The gains were led by large-cap tech stocks, which suffered the most in previous sessions as Treasury yields surged sharply, pushing the 10-year benchmark as high as 3.20%. Amazon and Tesla rose more than 5%. Google and Netflix went up more than 2.5%. Despite the day's gains, the S&P 500 and Nasdaq posted their sixth straight weekly loss, the longest losing streak since 2012 and 2011. Dow Jones 30 posted its seventh consecutive weekly decline, the average's longest losing streak since 1980. With such a negative performance in recent weeks, the pessimistic sentiment of the market is not yet completely overcome. At least during this week, it will be necessary for the indices to perform positively for investors to feel more confident. Last week, the US Department of Labor released four economic reports (wage growth, CPI, PPI, and import prices) that suggested inflation peaked in March. This is good news for market participants, who were worried that the Fed could trigger a recession with a string of interest rate hikes to combat inflation.

Source: https://capex.com/en/overview/wall-street-indices-rose-sharply-on-friday-after-an-up-and-down-week
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