Nasdaq 100 Rises 0.3%, Snapping 5-Day Slump as Strong US Data Lifts Stocks
Updated
Updated · Bloomberg · Aug 21
Nasdaq 100 Rises 0.3%, Snapping 5-Day Slump as Strong US Data Lifts Stocks
3 articles · Updated · Bloomberg · Aug 21
Summary
The Nasdaq 100 rose 0.3% on Friday and the S&P 500 gained 0.4%, ending the week higher after a five-session slide in tech shares.
Strong US business-activity data and a surge in Bitcoin helped steady risk appetite, giving equities a lift into the close.
That rebound interrupted pressure from long-dated Treasury yields, which had climbed to their highest level since 2007 and weighed on growth stocks through the week.
The move suggests investors are still willing to buy equities on solid economic signals even as higher bond yields remain a key constraint.