Dow Jumps 327 Points to Record High as 10-Year Yield Eases to 4.55%
Updated
Updated · CNBC · May 21
Dow Jumps 327 Points to Record High as 10-Year Yield Eases to 4.55%
7 articles · Updated · CNBC · May 21
327 points higher, the Dow traded up 0.7% at an intraday record Friday, while the S&P 500 and Nasdaq each gained 0.5%.
Treasury yields eased after this week's spike, with the 10-year note down 3 basis points to about 4.55% and the 30-year around 5.07%, relieving pressure on stock valuations.
Strong Q1 earnings also underpinned the rally after bond volatility earlier in the week rattled equities as traders feared a prolonged U.S.-Iran war would keep oil and inflation elevated.
For the week, the S&P 500 was up 1.1% and headed for an eighth straight gain, while the Dow rose 2.2% and the Nasdaq added 0.8%.
Is the market's record rally a true recovery or a dangerous bubble about to burst?
Why is Wall Street booming while American consumer confidence hits a historic low?
How has the Iran conflict permanently altered America's military focus and global security?