U.S. stocks rose on Friday, with the S&P 500 gaining 0.4%, the Nasdaq Composite up 0.5% and the Dow Jones Industrial Average advancing 368 points, or 0.7%, despite a surge in Treasury yields and volatile trading during the week.
Akamai jumps 5% as technology leads sectors
Akamai Technologies was among the session's biggest gainers, rising 5% after announcing a multiyear agreement with Anthropic.
Technology shares supported the market's performance, with Meta Platforms stock jumping more than 12% during the week amid enthusiasm over its artificial intelligence tool, Muse. The information technology sector within the S&P 500 also rose about 3%, posting the best performance among the index's sectors.
Oil falls as Wall Street indexes head for weekly gains
Oil prices fell amid optimism that the Strait of Hormuz could reopen after Iran asked the United States to return to the memorandum of understanding reached in June, which had failed at the time to end the conflict in the Middle East.
West Texas Intermediate crude futures fell 2% to around $92 a barrel, while global benchmark Brent crude futures declined 2% to around $104 a barrel.
With Friday's gains, the Dow Jones is heading for a 0.1% weekly rise, while the S&P 500 is on track for a 1% weekly gain and the Nasdaq is up 2% since the start of the week.
