- Stocks staged a recovery early on Friday following tame inflation data.
- The Dow Jones industrial average fell more than a thousand points between Tuesday and Thursday.
Following the worst couple of days on Wall Street since February, stocks staged a recovery on Friday amid signs inflationary pressures remain in check despite a humming economy, and as earnings season kicked off with strong postings from major banks.
Nasdaq Composite jumped more than 2%. The S&P 500 rose 1.5% to slightly above its 200-day moving average.
Treasury yields resumed a climb after dipping in the previous session. Investors sold off bonds earlier this week amid fears of rising interest rates, sending the 10- and 2-year yields to multiyear highs.
A measure of expected volatility on the S&P 500, theCboe Volatility Index, backed off from its highest level since February. Also known as Wall Street's "fear index," the VIX tends to rise when stocks are down.