Stock Market News, Nov. 10, 2023: U.S. Indexes Log Weekly Gains
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U.S. stocks ended the week on a high note, with all three major indexes climbing to book weekly advances.
Stocks rose Friday after Thursday’s mini-freakout, when the S&P 500 snapped a winning streak after a lackluster Treasury auction and a warning from Federal Reserve Chair Jerome Powell that victory over inflation wasn’t assured.
U.S. stocks finished broadly higher. The S&P 500, Dow industrials and Nasdaq all rose more than 1.2%. The Dow added nearly 400 points. All 11 of the S&P 500’s sectors were in the green.
Bond markets stabilized. The U.S. 10-year yield edged down. It settled at 4.627%, only slightly lower than its 4.629% level late Thursday.
Earnings reports hurt some stocks. Illumina, Trade Desk and Plug Power all fell after reporting quarterly results.
Oil prices moved higher. Brent crude rose 1.8%, settling at $81.43 a barrel and logging a roughly 4% gain for the week. Energy stocks rose, too.
Bitcoin was a bit below $37,000, as of 5 p.m. ET. The cryptocurrency has rallied on hopes the U.S. will approve bitcoin exchange-traded funds, and logged its highest end-of-day level Thursday since May 2022.
U.S. markets were open as usual Friday, with the Veterans Day holiday falling on Saturday this year.
Correction: The Nasdaq Composite index was up more than 1% around midday. An earlier version of this article incorrectly said it was up more than 5%.
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This article was originally published by a www.wsj.com . Read the Original article here. .