U.S. stocks registered more fresh record highs amid a broad-based rebound and Treasuries snapped an eight-day rally fueled by concerns about global growth amid the spread of Covid-19 variants.
The benchmark S&P 500 rose 1.1%, rebounding from the biggest one-day drop in about three weeks on Thursday. The Dow Jones Industrial, Nasdaq Composite and Nasdaq 100 indexes also finished at all-time highs on the same day with the S&P for a second time this month. Financial shares led the gains with rising yields increasing the outlook for profits. The dollar weakened against a basket of major currencies and oil gained for a second day.