NEW YORK, Aug. 21 (Xinhua) -- U.S. stocks ended higher Friday as investors sought to regain their footing following a sharp sell-off earlier in the week driven by climbing Treasury yields.
The Dow Jones Industrial Average rose 517.8 points, or 0.98 percent, to 53,277.01. The S&P 500 added 33.21 points, or 0.43 percent, to 7,674.37. The Nasdaq Composite Index increased by 113.29 points, or 0.43 percent, to 26,180.46. Despite Friday's rebound, all three major indexes registered losses for the week.
Seven of the 11 primary S&P 500 sectors ended in the green, with materials and health leading the gainers by going up 2.2 percent and 1.32 percent, respectively. Meanwhile, utilities and energy led the laggards by losing 2.31 percent and 0.23 percent, respectively.
Wall Street's advance followed a volatile period in the fixed-income market, where long-dated government bond yields resumed their upward trajectory despite recent federal intervention efforts to curb the sell-off. Bonds on the long end of the yield curve have faced sustained pressure amid market concerns that elevated crude oil prices could generate persistent inflationary headwinds.
Investor attention is turning toward an upcoming press conference on Monday by U.S. Treasury Secretary Scott Bessent, where details of the administration's framework to isolate Iran economically are scheduled to be announced amid ongoing Mideast tensions.
The financial sector significantly supported the broader market, led by sharp gains in cryptocurrency-related equities as bitcoin recorded a 22 percent weekly rally. Shares of online brokerage Robinhood jumped 13.7 percent, while crypto exchange operator Coinbase advanced 8.2 percent.
Performance across mega-cap technology equities was mixed. Tesla surged more than 5 percent, pacing the "Magnificent Seven" group. In the retail sector, discount apparel retailer Ross Stores climbed roughly 4.4 percent after raising its full-year guidance due to resilient demand for off-price goods, while BJ's Wholesale Club gained 5.6 percent after reporting better-than-expected quarterly results and lifting its 2026 profit outlook.
Looking ahead, market participants are bracing for key events next week, including the Federal Reserve's annual Jackson Hole Economic Policy Symposium and highly anticipated second-quarter earnings from semiconductor giant Nvidia.
