U.S. stocks finished sharply higher Friday, rallying late in the trading session, and booking weekly gains to wrap up a turbulent week for equity benchmarks. The Dow Jones Industrial Average DJIA, +1.39% closed about 452 poinsts, or 1.4%, higher at roughly 33,072, retaking a psychologically significant level at 33,000.
The S&P 500 index SPX, +1.66% finished 1.7% higher at about 3,975, while the Nasdaq Composite Index COMP, +1.24% ended the session up 1.2% at 13,139. Concerns about rising bond yields had caused headwinds for stocks in recent weeks but evidence of an improving economy helped to calm investors’ nerves. The 10-year Treasury note also yielded 1.68% on Friday but finishing below its close last week at 1.729%.