Wall Street Bounces Back But Weekly Losses Loom

The US stock market rebounded on Friday after a rough session earlier in the week, but the bounce was short-lived as the indexes are still set to end the week lower.

The S&P 500 and Nasdaq were poised to snap their three-week winning streak, while the Dow is headed for its second consecutive weekly loss and its steepest decline since mid-March.

Financial stocks led the charge with JPMorgan Chase and Goldman Sachs up 1.2% and 2.3%, respectively, while Robinhood surged 12.4% and Coinbase Global gained 9.5% as Bitcoin touched its highest price since late May.