Stocks finish higher but leave intact biggest weeklong slump since March
U.S. stocks end higher on Friday, nonetheless leaving equity benchmarks with the steepest weekly slump since March, as risk assets attempted to make a comeback. The S&P 500 picked up 38 points, or 1.4%, to around 2,767. The Dow Jones Industrial Average advanced 279 points, or 1.1%, to around 25,331. The Nasdaq Composite climbed 168 points, or 2.3%, to around 7,497. For the week, the S&P fell 4.1%, the Dow fell 4.2%, and the Nasdaq slipped 3.7%. The Dow and the S&P booked their third straight weekly loss, while the Nasdaq booked its second. This week, equities struggled with the implications of rising bond yields, though they partially retraced their climb this week. In corporate news, JPMorgan Chase & Co. and Citigroup’s earnings came ahead of expectations but their stocks still closed mixed.