US Stocks Rebound as Treasury Yields Steady and Bitcoin Surges

The US stock market experienced a rebound on Friday, August 21, after a roller-coaster ride the previous day. The Dow Jones Industrial Average gained 358.86 points to 53,118.07, while the S&P 500 rose 28.99 points to 7,670.15. Financials and industrials led the gains, with Goldman Sachs and Caterpillar being among the top performers.

The Nasdaq Composite edged higher by 44.27 points to 26,111.44, trimming weekly losses after a 1% drop in the prior session. However, tech giants were mixed, with Apple and Amazon slipping while Cisco and Broadcom posted gains.

Rising Treasury yields and disappointing earnings from major retailers had rattled sentiment earlier in the week. But early signs of stabilization in the bond market helped lift equities into the green.