US stocks are likely to end the week on a high.
After a minor turmoil on Thursday, the market looked fairly calm early Friday. The S&P 500 ended its winning streak after a lackluster Treasury auction and a warning from Federal Reserve Chairman Jerome Powell that victory over inflation was not guaranteed.
US stocks rose. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite Index all traded in positive territory. The tech-heavy Nasdaq led the gains, rising 0.4%.
The bond market has stabilized. The yield on the US 10-year Treasury note fell slightly. The current rate was 4.6%, up from 4.629% at the end of the previous day.
The earnings report had a negative impact on some stocks. Illumina, Trade Desk, Plug Power, Unity Software and WSJ parent News Corp. fell after reporting quarterly results.
Crude oil prices rose slightly. Brent crude rose about 1% to trade around $81 a barrel. Energy stocks also rose.
Bitcoin price has softened but remains above $36,000. The cryptocurrency rose on expectations that the U.S. would approve a Bitcoin exchange-traded fund, hitting its highest close since May 2022 on Thursday.
