(CNBC) Stocks rallied on Friday as a rebound in bond yields eased fears of a recession that sent stocks tumbling earlier in the week.
The Dow Jones Industrial Average rose 306.62 points, or 1.2%, to 25,886.01, while the S&P 500 gained 1.4%, or 41.08 points, to 2,888.68 and the Nasdaq Composite was about 1.7% higher at 7,895.99. Apple and Nvidia led the gains. The Dow, however, still lost 1.5% on the week.
Bond yields climbed back from their historic lows on Friday. The U.S. 30-year Treasury yield dropped to a record low on Thursday, while the yield on the benchmark 10-year notes dipped to a three-year low, as investors sought out safe-haven assets.
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