Stocks Rebound Friday but Post Weekly Losses on Bond Volatility

Wall Street clawed back ground on Friday after a week dominated by a sell-off in Treasurys. The S&P 500 rose 0.43% to 7,674.37, the Nasdaq Composite added 0.43% to 26,180.45, and the Dow Jones Industrial Average gained 517.80 points, or 0.98%, to close at 53,277.01, helped by healthcare names and a strong financials sector.

The bounce wasn't enough to salvage the week. The S&P 500 fell 1.4% and the Nasdaq lost 2%, with both snapping three-week winning streaks, while the Dow slid 0.9% for its second straight weekly decline. Rising long-term yields — including a 30-year Treasury yield that touched a two-decade high earlier in the week — pressured rate-sensitive and high-multiple stocks.

Attention now turns to next week's Jackson Hole symposium, running August 27–29, where Fed Chair Kevin Warsh's keynote will be scrutinized for signals on the policy path after minutes flagged the possibility of tightening.