S&P Recovers Losses as Bond Yields Move Higher | Closing Bell

Summary

U.S. equities staged a sharp Friday rebound, with the Dow closing above 50,000 for the first time and the S&P 500, Nasdaq, and small caps posting strong gains. Hosts reviewed the broad rally, crypto's bounce, and notable single-stock winners and losers including Robinhood, Strategy, Under Armour, Lumentum, Amazon, Molina Healthcare, and Stellantis. They also noted that gold and silver remained bid despite the risk-on tone, and that Treasury yields rose on the day but fell for the week.

• Major U.S. equity indices rallied sharply, with the Dow closing above 50,000 and the S&P 500 having its best day since May.
• Small and mid-caps outperformed, with the Russell 2000 up about 3.7% and the S&P 400 midcaps at a record.
• Bitcoin rebounded about 11% after the prior day's drop, lifting crypto-linked names such as Robinhood and Strategy.
• Under Armour and Lumentum were notable gainers after earnings, while Amazon, Molina Healthcare, and Stellantis were major decliners.
• Software stocks bounced Friday but remained down for a fourth straight week.
• Treasury yields rose on the day but fell across the curve for the week; gold and silver remained bid despite the risk-on tone.