The Dow Jones Industrial Average ticked up on Friday as Wall Street closed out a tough week that saw the index plunge 1,100 points in a single day and complete its longest losing streak since the 1970s.
The 30-stock index popped 683.05 points, or 1.6%, to 43,022.99.
The S&P 500 index recovered 100.8 points, or 1.7%, to 5,967.80
The NASDAQ rocketed 336.93 points to 19,419.80.
The Dow is down 3.4% on the week, headed for its worst weekly performance since March 2023. The S&P 500 and NASDAQ are each off around 3% on the week.
During Thursday’s trading session, the Dow eked out a 15-point gain and ended a 10-day losing streak — its longest since 1974. The small gain came a day after the Dow plunged 1,100 points on Wednesday. The Federal Reserve indicating this week that the central bank would cut interest rates fewer times next year than traders’ want was the catalyst for the market’s plunge on Wednesday.
Weighing on sentiment Friday was the failure Thursday night of a Trump-endorsed House Republican measure to fund the government for three months and avert a government shutdown. Without a deal, a partial shutdown is slated to start Friday night. Prices for the 10-year Treasury rallied, lowering yields to 4.49% from Thursday’s 4.57%. Treasury prices and yields move in opposite directions.
Oil prices lost 19 cents to $69.19 U.S. a barrel.
Prices for gold regrouped $38.00 an ounce to $2,646.10 U.S.
