Wall Street closes sharply higher, notches weekly gains as Treasury yields ease

The Dow rose 387.4 points, or 1.17%, to 33,390.97, the S&P 500 gained 64.29 points, or 1.61%, to 4,045.64 and the Nasdaq added 226.02 points, or 1.97%, to 11,689.01. — Reuters

NEW YORK: Wall Street rallied on Friday to end a volatile week, as US Treasury yields eased and economic data helped investors look past the growing likelihood that the Federal Reserve will have to keep its restrictive policy in place until late in the year.

All three major US stock indexes surged more than 1%, with the tech-laden Nasdaq climbing close to 2% with a boost from interest rate sensitive megacaps. US Treasury yields eased in the wake of comments from Fed officials that calmed fears over inflation and interest rates.