Today's Edition
NEW YORK/MILAN (REUTERS)
Major stock indexes rose, Treasury yields eased, and oil prices gained on Friday.
On Wall Street, the Dow hit a record high and the S&P 500 was on track for its eighth straight weekly gain.
Stocks have been driven higher by booming demand for AI-related stocks, even as concerns about economic fallout remained.
European shares finished at their highest level in more than a month and logged their biggest weekly gain in seven.
US stock and bond markets will be closed on Monday in observance of Memorial Day.
The Dow Jones Industrial Average rose 365.00 points, or 0.73%, to 50,653.60, the S&P 500 rose 35.06 points, or 0.47%, to 7,480.98, and the Nasdaq Composite rose 76.05 points, or 0.29%, to 26,369.15.
MSCI's gauge of stocks across the globe rose 6.60 points, or 0.60%, to 1,113.49.
The pan-European STOXX 600 index rose 0.73%, helped by technology stocks.
The yield on benchmark US 10-year notes fell 2.6 basis points to 4.558%, from 4.584% late on Thursday.
A selloff early in the week led yields to hit months- or years-long highs, with the 10-year yield on Tuesday reaching its highest level since January 2025.
Turkey's financial markets rebounded. The benchmark BIST 100 index rose 4.5% in Istanbul, recovering from a 6% plunge on Thursday.
Oil Up, US Consumer Sentiment down
Investors also digested a survey showing US consumer sentiment plunged to a record low in May as surging gasoline prices fuelled anxiety over worsening affordability.
Oil prices finished higher. US crude rose 25 cents to settle at $96.50 a barrel, and Brent gained 96 cents to settle at $103.54.
The dollar held higher. The dollar index, which measures the greenback against a basket of currencies, including the yen and the euro, rose 0.07% to 99.27, with the euro down 0.09% at $1.1608.
Against the Japanese yen, the dollar strengthened 0.11% to 159.13.
Data on Friday showed Japan's core inflation slowed to a four-year low in April, complicating the outlook for Bank of Japan policy.
Spot gold fell 0.73% to $4,508.44 an ounce.
