Wall Street breaks 7-week losing streak, longest since 2001
DAMIAN J. TROISE and ALEX VEIGA - AP Business Writers
NEW YORK (AP) -- Stocks rose on Wall Street Friday and closed higher for the week, breaking a seven-week losing streak, the longest such stretch since 2001.
The S&P 500 rose 2.5%, increasing its gain for the week to 6.6%. That's the biggest weekly gain for the benchmark index since November 2020.
Technology stocks were a big factor pushing the market higher. That sent the Nasdaq composite up 3.3%.
The Dow Jones Industrial Average rose 1.8%.
Retailers also made solid gains.
The yield on the 10-year Treasury note, which helps set mortgage rates, slipped to 2.74%.
U.S. crude oil prices rose.