TRQ:CC - Stocks in Line to Break Slump
U.S. stocks rose Friday following a choppy trading session as traders considered Federal Reserve Chair Jerome Powell's latest comments on inflation.
The Dow Jones Industrials sprang 310.62 points, or 1%, by noon hour to 32,085.14
The S&P 500 jumped 48.42 points, or 1.2%, to 4,054.60.
With Friday's gains, the S&P 500 is on pace to close above its 50-day moving average level of 4,030.22 for the first time since Aug. 31, on an intraday basis.
The NASDAQ Composite surged 202.96 points, or 1.7%, to 12,065.09
Those gains put all three major averages on pace to snap a three-week losing streak. Through Thursday, the Dow is up 1.5%. Meanwhile, the S&P 500 is up 2.1%, and the NASDAQ is 2% higher.
Shares of DocuSign surged more than 17% in extended trading after the electronic agreements company reported an earnings beat. The company also issued a third-quarter revenue forecast that was above expectations.
Treasury prices faded, raising yields to 3.29% from Thursday's 3.32%. Treasury prices and yields move in opposite direction.
Oil prices gained $2.71 to $86.25 U.S. a barrel.
Gold prices recovered $9.30 to $1,729.50 U.S. an ounce.