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Dow and S&P 500 rise as bitcoin tops $77,000 after a volatile week
Despite Friday gains, the Dow, S&P 500, and Nasdaq still closed lower for the week after a bond sell-off pushed Treasury yields back up.
US stocks ended a volatile week higher on Friday, with the Dow Jones Industrial Average up about 1% and the S&P 500 adding 0.4%. The Nasdaq Composite also rose about 0.4%, after it had finished lower the prior session.
The week’s direction was still dominated by pressure from bond markets, according to Yahoo Finance. After a bond sell-off weighed on riskier assets, Friday’s rebound was not enough to erase weekly losses across major indexes, with Treasury yields snapping back to higher levels.
Bitcoin continued its rally, hitting $77,000 and posting its best week in two years. Investors also turned to policy and event catalysts, including expectations for US Treasury Secretary Scott Bessent’s Monday press conference on a plan to economically isolate Iran.
Yahoo Finance also pointed to upcoming market watch items, including the Fed’s Jackson Hole Symposium and Nvidia’s second-quarter earnings next week, plus quarterly results from BJ’s Wholesale Club that highlighted demand tied to cost-conscious consumers.
Latest closeBitcoin $81,906.63 ▼1.4%|S&P 500 7,765.36 ▼0.5%|Nasdaq Comp. 27,193.34 ▼1.2%