Stocks showed a lack of direction but mostly moved higher on Friday, with the Dow up 238.37 points, Nasdaq climbing 117.44 points, and S&P 500 rising 34.94 points. The major averages posted strong gains for the week, with the Nasdaq surging 2.1%, S&P 500 and Dow jumping 1.7% and 1.6%, respectively. Concerns about bad loans that dragged the markets lower on Thursday seemed to evaporate, leading to a rebound. Banking stocks like Jefferies and Zions Bancorp showed strong moves back to the upside. Easing concerns about the U.S.-China trade dispute also boosted stocks.

Despite the market rebound, most major sectors showed only modest moves, with gold stocks plummeting 7.4%. In overseas trading, Asian and European markets mostly moved lower. Treasuries gave back ground, with the yield on the ten-year note climbing to 4.007 percent. Next week, a report on consumer price inflation and earnings news from companies like Coca-Cola, General Motors, Netflix, AT&T, IBM Corp., Tesla, and Intel will be in focus.

Read more at 1. “Stocks Surge on Positive Economic Data” – Nasdaq
2. “Tech Giants Report Record Profits” – CNBC
3. “Unemployment Rate Drops to 4%” – Wall Street Journal
4. “Oil Prices Reach 3-Year High” – Reuters
5. “Tesla Announces Plans for New Electric Car Model” – CBS MarketWatch: U.S. Stocks Move Back To The Upside As Bank Credit Concerns Quickly Fade