- The major indexes rallied off their lows into the close of trading as Treasury yields fell from their post-payrolls highs.
- The S&P 500 (SP500) +2% and Dow Jones (DJI) +1.9% closed up for the week. The S&P gained 0.8% and the Dow was up 1.8%.
- The Nasdaq (COMP) +1.6%, recouped a good deal of losses, but ended with its third weekly loss in a row, off 2.1%.
- The Nasdaq 100 (NASDAQ:QQQ) stayed out of correction territory, but is still off 8% from its February high.
- The 10-year Treasury yield, which had popped to 1.62% after a big beat in nonfarm payrolls, was up 1 basis point to 1.56%.
- The megacap stocks helped with the turnaround as rates backed off. Five of the Big 6 closed higher and Tesla ended well off its lows.
- All the S&P sectors finished in the green.
- Energy (NYSEARCA:XLE) topped the sectors as WTI futures rose again, ending above $66 per barrel. XLE rose 10% for the week and is up five weeks in a row.
- Gold edged below $1,700/oz. for its lowest close since June.
- Info Tech (NYSEARCA:XLK) ended down for the third week in a row.
- The the talk of a SPAC implosion looked premature as big-name SPACs rallied back from big declines.