By STAN CHOE, AP Business Writer<\/p>\n
NEW YORK (AP) \u2014 A cooldown in oil prices on Friday helped release some of the pressure that\u2019s built up on Wall Street, and U.S. stocks closed out their first winning week in the last three.<\/p>\n
The S&P 500 added 0.5% to break\u00a0a three-day losing streak<\/a>\u00a0marked by big swings due to rising yields in\u00a0the bond market<\/a>. Despite the week\u2019s uneasiness, the main measure of the U.S. stock market\u2019s health pulled back within 0.7% of\u00a0its all-time high<\/a>\u00a0set last month.<\/p>\n The Dow Jones Industrial Average added 478 points, or 0.9%, and the Nasdaq composite climbed 0.5%.<\/p>\n Stocks got a boost after the price for a barrel of Brent oil dropped 2.8% to $97.44 per barrel. It\u2019s been yo-yoing on uncertainty about when the\u00a0war with Iran<\/a>\u00a0will allow\u00a0oil to flow freely again<\/a>\u00a0from the Middle East. Prices go down when hopes rise for a possible deal to fully reopen\u00a0the Strait of Hormuz<\/a>\u00a0to oil tankers, and they go up when doubts resurface.<\/p>\n But trading was shaky again on Wall Street Friday, particularly after a report on U.S. consumer sentiment sent Treasury yields higher in the morning.<\/p>\n The report from the University of Michigan said U.S. consumers are bracing for inflation of 4.6% in the coming year, up from their forecast of 4% the month before. It also said that overall sentiment among consumers was not as bad as economists expected, even if it was the lowest in four months.<\/p>\n The rising expectations for high inflation are potentially dangerous for the economy because they could encourage behavior that leads to a vicious cycle that makes the cost of living spiral even higher.<\/p>\n Some consumers told the survey that buying some kinds of products now would help them avoid higher prices in the future. If many rush to make such purchases at the same time, it could encourage sellers to raise prices further.<\/p>\n Following the report on consumer sentiment, the yield on the 10-year Treasury briefly jumped to 5.22%, up from 5.18% late Thursday, and was near its highest level since 2007.<\/p>\n High yields slow the economy by making it\u00a0more expensive<\/a>\u00a0for everyone to borrow money, while undercutting prices for stocks and other investments. The 10-year yield has been jumping since the start of the war with Iran, when it was at 3.97%.<\/p>\n Higher yields worldwide are rattling all kinds of financial markets. They\u2019re on the rise because of worries about\u00a0inflation<\/a>, expensive oil, big\u00a0government debt<\/a>\u00a0loads, signs of\u00a0continued economic strength<\/a>\u00a0and other factors.<\/p>\n But yields eased later in trading on Friday as the price of oil pulled lower, and the 10-year yield fell back to 5.15%. That helped stocks on Wall Street regain strength.<\/p>\n Helping to drive the market higher was Akamai Technologies. The cloud company\u2019s stock rose 3.2% after it announced an $11.6 billion, multiyear agreement with Anthropic, the company behind the Claude AI chatbot.<\/p>\n Costco Wholesale climbed 2.9% after the retailer reported a stronger profit for the latest quarter than analysts expected. Such strong profit reports from U.S. companies have helped the stock market remain resilient despite all the worries about high inflation and oil prices.<\/p>\n All told, the S&P 500 rose 39.28 points to 7,743.41. The Dow Jones Industrial Average jumped 478.64 to 51,828.62, and the Nasdaq composite gained 129.34 to 27,068.72.<\/p>\n In stock markets abroad, indexes were mixed in Europe following bigger moves in Asia. Japan\u2019s Nikkei 225 climbed 1.3%, while Hong Kong\u2019s Hang Seng dropped 1%.<\/p>\n AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"By STAN CHOE, AP Business Writer NEW YORK (AP) \u2014 A cooldown in oil prices on Friday helped…\n","protected":false},"author":2,"featured_media":410753,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[8148,82633,8149,73980,11412,139,141,140,8150,8147,3457],"class_list":["post-410752","post","type-post","status-publish","format-standard","has-post-thumbnail","category-orlando","tag-dow-jones-industrial-average","tag-iran-war","tag-nasdaq","tag-new-york-stock-exchange","tag-oil-prices","tag-orlando","tag-orlando-headlines","tag-orlando-news","tag-sp-500","tag-stock-market-today","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/410752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=410752"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/410752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/410753"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=410752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=410752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=410752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}