Stocks surged on Friday as worries over rising rates subsided and tech shares rebounded from steep losses earlier this week.
The Dow Jones Industrial Average recovered 337.97 points, or 1.4%, to begin Friday at 25,390.80, as Visa surged 4.5%.
On Thursday, Wall Street closed sharply down, with the Dow falling over 540 points, bringing its two-day losses to more than 1,300 points.
The S&P 500 resurfaced 44.63 points, or 1.6%, to 2,772.80, with the tech sector surging 2.5%.
The NASDAQ picked up 178.59 points, or 2.4%, to 7,507.65, climbing more than 2%.
Netflix zipped 5.1% higher, while Amazon improved 4.4%, and Apple gained 3%. Facebook rose 1.4% and Alphabet advanced 2.5%.
Stocks have also fallen this week as tech — the biggest S&P 500 sector by market cap weight — has lost nearly 6.8% through Thursday's close. These losses have sent the major indexes down more than 5%, on pace for their biggest weekly declines since March.
Sentiment was also lifted by stronger-than-expected third-quarter results from J.P. Morgan Chase and Citigroup, which sent their stocks up by more than 1% each. Wells Fargo also reported a better-than-forecast profit.
Expectations for this earnings season are high. Analysts polled by FactSet expected S&P 500 earnings to grow by 19%.
Prices for the benchmark for the 10-year U.S. Treasury fell back, raising yields to 3.17% from Thursday’s 3.15%. Treasury prices and yields move in opposite directions.
Oil prices regained 50 cents at $71.47 U.S. a barrel.
Gold prices dropped $1.30 to $1,226.30 U.S. an ounce.
