US stocks closed higher on Friday, ending the week on a strong note.
All three major indices had their best week since June, with the S&P 500 and Dow gaining 4.7% and 4.9%, respectively, last week.
The gains came despite the 10-year Treasury yield climbing to its highest level since 2008, along with mixed earnings results.
shares of snap inc SNAP fell 28% on Friday following third-quarter results. The company said there will be no Q4 expectations due to uncertainties in the operating environment, but believes annual revenue growth is likely to slow during the fourth quarter.
The Nasdaq 100 rose 2.39% to close at 11,310.33 on Friday amid gains apple inc AAPL and Amazon.com, Inc. AMZN Equities, while the S&P 500 gained 2.37%. The Dow Jones rose around 749 points to settle at 31,082.56 in the previous session.
All major sectors of the S&P 500 ended positively, with materials, financials and consumer discretionary posting the largest gains on Friday.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 1% to close at 29.69 points on Friday.
What is the CBOE Volatility Index?
The CBOE Volatility Index, popularly known as the VIX, is a measure of stock market volatility expectations based on call and put options of the S&P 500 index options.
