Dow recoups some of this week’s heavy losses



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.