Wall Street Rebounds Despite Elevated Treasury Yields

The Dow Jones Industrial Average rebounded strongly on Friday, rising nearly 1% as US stocks recovered from a sharp sell-off in the previous session. The S&P 500 and Nasdaq Composite also gained, although all three major indexes ended the week lower after breaking their recent winning streaks.

The Dow rose 517.80 points, or 0.98%, to close at 53,277.01, while the S&P 500 gained 0.43% to 7,674.37, and the Nasdaq Composite advanced 0.43% to 26,180.45.

Healthcare stocks including Merck and Johnson & Johnson supported the Dow, while financials and materials also helped lift the broader market. The materials sector was the S&P 500's best-performing sector on Friday, while utilities lagged.

Crypto-related stocks rallied as Bitcoin extended its weekly gains, with Robinhood shares jumping nearly 14%, and Coinbase gaining 8%.