Technology stocks led the U.S. market’s rebound from its worst weekly decline of the year as investors grew more certain that central bankers around the world are doing enough to support global growth and data indicated the American economy remains on solid footing.
The Standard & Poor’s 500-stock index advanced 2.9 percent in the five days, recovering from a 2.2 percent drop the prior week. The tech-heavy Nasdaq 100 index increased 4.2 percent. The Dow Jones industrial average underperformed, attributable mostly to Boeing’s decline after its best-selling 737 Max jets were grounded around the world in the wake of deadly crashes.
China’s renewed commitment to stimulus reignited U.S. stocks Friday as global markets rallied on optimism about a pickup in the world’s second-largest economy. Latest readings on U.S. business-equipment orders and producer prices signaled a resilient economy and modest pressure on inflation. Investors also were turning their attention to monetary policy announcements due soon from the United States, Britain and Brazil.
The Treasury will sell $48 billion of three-month bills and $39 billion of six-month bills Monday. They yielded 2.44 percent and 2.51 percent in when-issued trading. It will also sell four-week bills, eight-week bills and $11 billion of 10-year Treasury Inflation-Protected Securities on Thursday.