Stocks rebound but still close out worst week since winter
(AP) – Stocks rebounded on Wall Street Friday but still ended with their worst weekly decline since February.
The S&P 500 added 1.1%, led by companies that would benefit the most from a healthier economy. Airlines, hotels and companies hurt by restrictions on travel and other activities had some of the biggest gains.
Merck leaped 8.4% after saying its experimental pill to treat COVID-19 cut hospitalizations and deaths by half.
The yield on the 10-year Treasury fell back to 1.46% from 1.52% late Thursday. It was trading at 1.32% a bit over a week ago. Oil prices rose again.