Stocks Hold Up Despite Elevated Treasury Yields

U.S. stocks finished the week on a high note, despite elevated Treasury yields and concerns about inflation.

The Dow Jones Industrial Average (DJIA) rose 0.93% to 51,828.62, while the S&P 500 (SPX) gained 0.51% to 7,743.41.

The 10-year U.S. Treasury yield remained above 5%, but stocks have so far absorbed the rise relatively well.

Large technology companies and AI-related stocks continued to drive the market higher, with Meta Platforms (META) and Microsoft Corporation (MSFT) leading the charge.

However, financial and utility stocks were among the weaker groups, highlighting the increasing dependence on a few large companies.