Traders work on the floor of the New York Stock Exchange during morning trading in New York City on May 21, 2026.
Michael M. Santiago | getty images
Stocks rose broadly on Friday as Treasury yields edged lower, leaving Wall Street poised for a winning week despite heavy volatility.
Dow Jones Industrial Average Last traded 411 points, or 0.8% higher, near an intraday all-time high. S&P 500 And nasdaq composite climbed 0.6% and 0.4% respectively.
“It’s all about the market,” Steve Sosnik, chief strategist at Interactive Brokers, told CNBC. “Market [is] Telling you today they are far more worried that they will lose some kind of peace in the Middle East than they are about the risks of going home for a long weekend.”
It is unclear whether the US and Iran are moving toward an agreement to end their months-long war. On Friday, a Qatari team flew to Tehran in coordination with the United States to help secure an agreement to end the conflict, Reuters reported, citing a source familiar with the matter.
Oil was little changed on Friday, off the peak reached earlier in the week, as traders hoped a resolution to the Iran war could come soon. Despite the back-and-forth, the major averages are headed for solid weekly gains.
The benchmark 10-year Treasury note yield fell 3 basis points to about 4.55% at one point on Friday, although it has recovered slightly. The 30-year bond yield also fell 3 basis points earlier on Friday and was trading around 5.07%.
The volatility of the bond market at the beginning of the week had an impact on the stocks. That hit a 30-year high before the financial crisis eased, while the 10-year low was the highest in more than a year as traders feared a prolonged US-Iran war would keep oil prices high and put pressure on inflation.
Separately, Qualcomm shares fell 12% on Friday.
The S&P 500 is up 1.1% so far this week and is on track for its eighth consecutive weekly gain. This would be the longest since the nine-week winning streak that ended at the end of 2023.
The Dow is up 2.2% this week and is on track for its third positive week out of four. The Nasdaq added 0.8%, on pace for its seventh weekly gain in the past eight weeks.
