Major US stock indexes closed higher on Friday, with the Dow Jones gaining nearly 518 points to settle at 53,277.01. However, all three benchmarks posted weekly losses: the S&P 500 fell 1.43%, the Nasdaq dropped 2.05%, and the Dow slid 0.85%. The 30-year US Treasury yield peaked at 5.327% around August 18, its highest level since 2007, driven by inflation concerns and Middle East tensions. Oil prices rose for six consecutive sessions, with Brent crude climbing 6.39% and US crude gaining 5.66% for the week. Strong US economic data, including the services sector’s strongest growth in nearly two years, complicates the Federal Reserve’s task of balancing inflation control with economic expansion.
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