Wall Street closed out a week of mostly choppy trading with broad gains Friday, pushing the S&P 500 to its second straight weekly gain.
Jobs will come back and the state’s economy will recover faster than the nation’s, a UCLA forecast says, led by consumer spending, tech jobs and home-buildingReport chronicles missteps by state unemployment agencies that left millions in the lurchThe S&P 500 rose 37.04 points to 4,229.89. The Dow Jones industrial average gained 179.35 points, or 0.5%, to 34,756.39. The rally in technology stocks helped push the Nasdaq to a solid gain. The tech-heavy index climbed 199.98 points, or 1.
Bond yields fell. The yield on the 10-year Treasury slipped to 1.55% from 1.62% late Thursday. The drop helped push tech stocks higher. Lower interest rates help stocks generally because they can steer some investors away from bonds that are paying little in interest toward riskier investments. Stocks that look the most expensive based on their earnings, such as technology companies, can be among the biggest beneficiaries.
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