The S&P 500 rose Friday to close out a winning week even as investors weighed interest rate hikes and war in Ukraine.
The Dow Jones Industrials stormed ahead Friday afternoon, adding 153.3 points to close the day at 34,861.24
The S&P 500 recovered 22.9 points to 4,543.06.
The S&P 500 is now about 3% higher in March, more than erasing its losses since Russia invaded Ukraine late last month.
The NASDAQ Composite slumped 22.54 points to 14,169.30.
All three major averages notched second consecutive winning weeks. The Dow ticked up 0.3%. The S&P 500 gained 1.8%, and the NASDAQ rallied nearly 2%.
The S&P 500 is now up about 3.9% higher in March, more than erasing its losses since Russia invaded Ukraine late last month.
The rebound has come even as the war in Ukraine continues and the Federal Reserve is set to hike interest rates several more times this year.
Financial stocks rose Friday as the 10-year yield jumped. Bank of America prospered 1.5%, and Wells Fargo rose 2.4%.
On the downside, technology stocks eased, weighing on the NASDAQ. Zoom fell 3.2% and DocuSign lost 3.9%, among the NASDAQ's worst decliners Friday.
Traders kept an eye on Europe as the Ukraine-Russia war continues. The European Union on Friday struck a gas deal with the U.S. in an effort to reduce its dependency on Russian energy.
Treasury prices slumbered, raising yields to 2.48% from Thursday's 2.37%. Treasury prices and yields move in opposite directions.
Oil prices regained 34 cents to $112.88 U.S. a barrel.
Gold prices stayed negative $7.30 to $1,954.90 U.S. an ounce.