Stocks

Stocks Rally on Friday but Close Lower for Week on Elevated Bond Yields, Profit-Taking

Stocks Rally on Friday but Close Lower for Week on Elevated Bond Yields, Profit-Taking
Traders work on the floor of the New York Stock Exchange on Jan. 2, 2025. Spencer Platt/Getty Images
Panos Mourdoukoutas
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U.S. stocks staged a solid rally on Friday, led by techs, but ended the week lower, in yet another weekly reversal due to elevated bond yields and profit-taking.

The S&P 500 ended Jan. 3 at 5,942, down 1.58 percent for the week; the Dow Jones closed at 42,732, down by 1.37 percent; the Nasdaq finished the week at 19,621, down 1.9 percent; and the small-cap Russell 2000 was down 0.51 percent to end at 2,268.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”