US equity benchmarks rebounded on Friday, paring weekly declines as long-dated Treasury yields stabilized following a volatile stretch. The Dow Jones Industrial Average advanced 0.5% to 53,025, the S&P 500 added 0.4% to 7,667, and the Nasdaq Composite rose 0.3% to 26,123. The gains limited weekly losses, though the S&P 500 and Nasdaq still posted their first three-week losing streak since late May, while the Dow recorded its second consecutive weekly decline and its steepest drop since mid-March.
Concerns over rising long-term borrowing costs, fiscal sustainability, and persistent inflation pressures weighed on markets earlier in the week. US Treasury 10-year yields surged to multi-month highs, though they remained near recent peaks after the government signaled potential additional purchases following an unexpected intervention. "The bond market is too large for Treasury buybacks alone to move yields materially," said Paul Stanley, CEO of Arca. "Ultimately, investors are likely to refocus on artificial intelligence-driven productivity gains and their impact on corporate earnings."
Shares of crypto-related companies outperformed as legislative momentum for digital assets gathered pace. Bitcoin approached its highest level since late May after President Donald Trump urged Congress to pass a key crypto bill. Coinbase Global shares jumped 5.7%, while MicroStrategy, a major Bitcoin holder, gained more than 4%. Retailer Ross Stores also advanced 4% after raising its full-year profit guidance following a strong second quarter.
