Bond Sell-Off, Rising Oil Prices Can't Dampen Wall Street's Gains

Wall Street stocks closed higher on Friday despite facing pressure from bond market sell-offs and rising oil prices.

The S&P 500 added 0.4% to end at 7,674.39 points, while the tech-heavy Nasdaq advanced 0.4% to settle at 26,180.46 points. The blue-chip Dow climbed 1% to conclude at 53,276.81 points.

The materials sector led the gains with a 2.2% jump in the S&P 500, driven by copper prices breaking records this month due to supply shortages and massive demand for the metal.

Cryptocurrency-related stocks also surged on Friday, including BTC and other cryptocurrencies, which have seen a significant bid this week following the U.S. Treasury's intervention move and President Donald Trump's call for clear regulation for the industry.