Dow Closes Week on Calmer Note as Bond Market Swings Subside
The stock market closed out a tumultuous week on a relatively calm note, with the Dow Jones Industrial Average (DJI) rising 0.89%, the Nasdaq Composite up 0.70%, and the S&P 500 adding 0.68%.
Crypto-linked stocks led the market, with Robinhood jumping 11.9% and Coinbase gaining 9.2%. Tesla also performed well, increasing about 4% on news of its robotaxi and Semi launches in Nevada and Europe.
The bond market's wild swings finally subsided, allowing interest-sensitive stocks to breathe easier. The 10-year Treasury yield is near 4.7%, still high but no longer fluctuating wildly.
Gold also rose 2% as measured by the SPDR Gold Shares fund, and Bitcoin jumped 5.9%. These gains are being attributed in part to clearer regulations in the crypto industry.