K:CC - Dow Surges Nearly 400 Points Friday
Stocks rallied Friday, recovering the ground lost in the previous session as Treasury yields stabilized. This latest move higher put the major averages on track to end the week higher.
The Dow Jones Industrials popped 391.56 points, or 1.2%, to 34,283.10.
The S&P 500 index regained 67.89 points, or 1.6%, to 4,415.24.
The NASDAQ triumphed 276.66 points, or 2.1%, to 13,798.11. The tech-heavy index garnered its best day since May.
On a weekly basis, the S&P 500 is up more than 1%, while the NASDAQ is on pace to advance 2%. The 30-stock Dow is up 0.6%.
Trade Desk swooned $12.81, or 16.7%, to $64.01, after the digital ad company offered weak revenue guidance for the fourth quarter.
Elsewhere, hydrogen fuel cell company Plug Power cratered $2.40, or 40.5%, to $3.53, on a wider-than-expected third quarter loss and a miss on revenue.
Wall Street also parsed fresh consumer sentiment data for November, which showed inflation expectations increased last month. The latest survey from the University of Michigan showed a reading of 60.4, a 5.3% decrease from a month earlier and below a Dow Jones forecast of 63.7.
Prices for the 10-year Treasury gained ground, lowering yields to 4.62% from Thursday's 4.64%. Treasury prices and yields move in opposite directions.
Oil prices jumped $1.50 to $77.24 U.S. a barrel.
Gold prices dropped $30.10 to $1,939.70.