(Reuters) – Wall Street surged in volatile trading on Friday, with the Nasdaq rebounding at the end of a week that saw it extend losses to about 10% from its previous record high.
All three main indexes bounced back from losses earlier in the day, with investors in recent sessions spooked by rising interest rates that offset optimism about an economic rebound.
Microsoft rallied 2.2%, boosting the S&P 500 more than any other stock, with gains in Intel, Alphabet and Oracle also lifting the index.
The benchmark 10-year U.S. Treasury yields hit a new one-year high of 1.626% after nonfarm payrolls increased by 379,000 jobs last month, blowing past a rise of 182,000 forecast by economists polled by Reuters. Read more…..
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