The S&P 500 Index ($SPX) (SPY) Friday closed up +0.56%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.42%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.90%.
Stocks settled moderately higher on Friday, with the S&P 500 and the Dow Jones Industrials posting new all-time highs. Friday’s decline in bond yields supported equities. The 10-year T-note yield dropped to a 5-week low on carryover support from a decline in European government bond yields and a drop in US inflation expectations. Also, chip stocks rallied Friday and boosted the overall market after Bloomberg reported that additional US curbs on sales of chip technology to China may stop short of some of the stricter measures previously considered. The NYSE closed early Friday at 1300 EST in a shortened holiday session.
