Stock Market Today: Dow up 250 points, S&P 500 rises for fifth-straight day
Treasury yields may be falling alongside the U.S. dollar on Friday as traders amp up bets on a 50 basis point interest-rate cut by the Federal Reserve next week. But so far, stocks appear unfazed.
Instead, investors are capping off what has been a strong rebound this week with a broad-based rally. The Dow was up 300 points in recent trade while all 11 S&P 500 sectors were in the green, according to FactSet data.
Rising crude-oil prices helped boost shares of energy and materials stocks, which were leading the S&P 500 higher on Friday. Meanwhile, shares of the Magnificent Seven group of Big Tech stocks were mixed, with shares of Nvidia Corp. lower on the session.
A drop in shares of Adobe was also helping to weigh on information-technology stocks. The sector was the worst performer in the S&P 500 on Friday.
Here is where stocks stood in recent trade:
The S&P 500 was up 19 points, or 0.4%, at 5,615.
The Nasdaq Composite was up 49 points, or 0.3%, at 17,618.
The Dow Jones Industrial Average was up 258 points, or 0.6%, at 41,351.