US Stocks Rebound Amid Oil Price Volatility and Rising Bond Yields

The US stock market was mixed on Friday as oil prices eased and bond yields rose. The S&P 500 added 0.3% after a three-day losing streak, but remains near its all-time high set last month.

The Dow Jones Industrial Average was up 221 points, or 0.4%, while the Nasdaq composite was 0.3% higher. The stock market initially rose after trading began due to a drop in oil prices, which had been yo-yoing on uncertainty about when the war with Iran would allow oil to flow freely again.

A report on US consumer sentiment released shortly after trading began pushed Treasury yields higher. The University of Michigan's survey said consumers are bracing for inflation of 4.6% in the coming year, up from their forecast of 4% the month before. This increase in expectations for high inflation is potentially dangerous for the economy as it could encourage behavior that leads to a vicious cycle of higher prices.