Dow Soars Over 500 Points as Crude Oil Prices Ease

The Dow Jones index surged over 500 points on Friday, ending a four-day losing streak. The index had dropped 1.6% in the previous sessions, with the S&P 500 and Nasdaq Composite also recording losses.

Crude oil prices retreated from above $100 a barrel, which may have contributed to the market's relief. However, investors are still awaiting the outcome of the Federal Reserve rate hike next week, with market-implied odds at roughly 90%.

The CNN Money Fear and Greed Index showed some improvement in overall market sentiment but remained in the 'Fear' zone on Friday, with a reading of 33.