US stocks gain as oil falls and summit lifts sentiment
The Dow, S&P 500 and Nasdaq advanced Friday as lower crude prices and U.S.-China talks buoyed confidence despite rising Treasury yields.
U.S. stocks ended Friday higher, with the Dow Jones Industrial Average up 0.9% to 51,828.62. The S&P 500 rose 0.5% to 7,743.41, while the Nasdaq Composite added 0.5% to 27,068.72.
The three indexes also finished the week higher. The Dow gained 0.3%, the S&P 500 rose 1.2%, and the Nasdaq advanced 2%, with technology shares helping drive gains.
Falling crude prices and developments in U.S.-China discussions supported sentiment, despite a sharp rise in government bond yields. President Donald Trump said his meeting with Xi Jinping was productive, and Treasury Secretary Scott Bessent said the two countries had agreed to extend their trade truce until Jan. 10, 2027.
U.S. benchmark West Texas Intermediate crude futures fell 2.3% to $92.41 a barrel. Brent crude futures declined 2.1% to $104.32.
The 10-year Treasury yield briefly reached 5.23%, its highest level since June 15, 2007. The 30-year yield touched 5.488%, while the 2-year yield reached 5.163%.
Economic reports were mixed. The University of Michigan’s final September consumer sentiment reading was 48.1%, above the 47.8% consensus estimate but below August’s 51.7%. Separately, durable goods orders were largely unchanged in August, while orders for non-defense capital goods excluding aircraft rose 1.6%.
This article was produced with the help of AI technology.
Source: Yahoo Finance
