Stocks end week down but still see weekly gains, tech hit by rising bond yields

From Nasdaq: 2024-12-27 16:22:51

Stocks ended the holiday-shortened week on a low note, with the Dow dropping 333 points. The S&P 500 and Nasdaq also finished in the red, with tech stocks taking a hit from rising bond yields. Despite the decline, all three major indexes still had weekly gains. Credit card debt is on the rise due to increased consumer spending, while homelessness in the U.S. is also increasing. Oil prices surged above $70 per barrel due to ‘fear bidding’ following Israeli strikes in Yemen, while rising bond yields caused gold prices to fall. No notable earnings were reported.



Read more at Nasdaq: Stocks Eke Out Weekly Wins Despite Friday Fumble