Yields on U.S. stocks and bonds increased on Friday, as investors analyzed new data on the economy.
The S&P 500 rose 0.2%. Nasdaq Composite added 0.5%. The Dow Jones Industrial Average amounted to about 44 points, or 0.1%.
The stock has come under pressure in recent days, as concerns about the pace of economic recovery, high valuations of technology stocks and rising bond yields weighed on sentiment.
“Investors are taking a short break,” said Arthur van Slooten, global asset allocation strategist at Société Générale. “We believe that there is still more to do. When the reflection trade returns and there is more confidence in that, we will see a continuation of the market performance we have had ”in recent weeks, he added.
In bond markets, the yield on the 10-year Treasury bill rose to 1.323%, from 1.286% on Thursday. Yields have soared this week, prompting some investors to question whether risky assets such as equities are looking less attractive, said Kiran Ganesh, a multi-set strategist at UBS Global Wealth Management.