US: Stocks Rise on Strong Business Activity.

US stock indices closed higher on Friday, pausing the week’s losses on solid economic data. The S&P 500 gained 0.4%, the Nasdaq rose 0.3%, and the Dow added 518 points. Equities advanced after a report showed US business activity grew at its fastest pace in more than four years. Meanwhile, markets continued to assess a recent surge in bond yields driven by inflation and fiscal concerns. Long-dated Treasury yields remained near levels seen before the Treasury announced a larger bond buyback, while the dollar extended its decline. Hyperscalers gained, with Alphabet up 1.2%, Microsoft adding 0.4% and Meta rising 0.7%. Chipmakers traded mixed, with Nvidia down 1%, Micron losing 0.8% and Intel retreating 2.2%. Walmart fell over 10% on the week after a rare earnings miss weighed on its outlook and raised concerns over US consumers.