Markets Close On Positive Note After Turbulent Week
To quote the classic Dinah Washington tune: What a difference a day makes.
After the markets tumbled Thursday amid rising bond yields and Federal Reserve Chairman Jerome Powell’s prediction of increasing inflation, markets closed Friday on an upswing fueled by the positive news of 379,000 jobs added in February.
At Day’s End: The Dow Jones Industrial Average posted a 572-point gain to close at 31,496.30, up 1.9%. The NASDAQ Composite rose 1.6% to close at 12,920.15.
The 10-year Treasury yield rose to 1.62% on Friday morning while Bitcoin (CRYPTO:BTC) ascended 3.2% to $49,462.47, just a tad shy of reclaiming the $50,000 milestone.
Among some of the major exchange-traded funds, Cathie Wood’s ARK Innovation ETF (ARKK) closed at 117.07, down 1.15%. The SPDR S&P 500 ETF Trust (NYSE: SPY) closed at 383.63, up 1.84%. The Invesco QQQ Trust (NASDAQ: QQQ) greeted the closing bell at 308.68, up by 1.51%.
At Week’s End: Friday's rally helped the Dow close the week 1.8% higher, with the S&P 500 ending the week 0.8% higher. However, the tech-heavy NASDAQ didn’t catch today’s wave and closed the week 2.1% lower.
Photo by Avi Chomotovski/Pixabay.
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