Market Recap: U.S. stocks recover to end Friday at record highs

Major U.S. stock benchmarks booked a third straight week of gains to end Friday at all-time highs, staging a recovery from the previous session that was marked by doubts about global economic growth in the public health crisis.

All three major averages notched record closes on Friday, rebounding from the previous session’s losses over concerns of a slowdown in global economic growth.

The stock market staged an impressive comeback after equities slumped Thursday on worries over the global growth outlook as some countries struggle with the public health crisis. The concerns about the public health crisis were blamed — along with myriad other factors — for a U.S. Treasury debt rally that sent long-term yields down to their lowest levels since February this week.

Falling yields should be a positive for stocks, argued Ipek Ozkardeskaya, senior analyst at Swissquote, in a Friday note.Falling yields hint that inflation and the potential for a more aggressive than expected withdrawal of easy money policies by the Federal Reserve are a fading cause for concern, she said.

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