Stocks closed lower Friday as market participants took profits on red-hot tech stocks. Still, all three main indexes were higher on the week, with the S&P 500 and Nasdaq Composite notching their seventh straight weekly wins and the Dow Jones Industrial Average bringing its weekly win streak to three.
Treasury yields spiked heading into the weekend, which didn't help the equity market either. The yield on the 2-year Treasury jumped 8.7 basis points to 4.079% and the 10-year Treasury yield climbed 14.2 basis points to 4.601%. It's the highest level for both in nearly a year.
