Ammon News - US and European stocks closed higher on Friday, with European markets recovering as bond yields eased following a sell-off driven by rising oil prices and borrowing costs.

On Wall Street, the S&P 500 gained 46.35 points, or 0.60 percent, to close at 7,811.71, while the Nasdaq Composite rose 172.83 points, or 0.64 percent, to 27,365.00. The Dow Jones Industrial Average advanced 429.90 points, or 0.84 percent, to 51,661.54.

In Europe, the pan-European STOXX 600 index climbed 1 percent, erasing its weekly losses after closing at its lowest level in nearly four months on Thursday, when surging oil prices and bond yields prompted investors to retreat from riskier assets.

Most sectors in the STOXX 600 ended higher, although telecommunications stocks bucked the trend, falling 2.9 percent to an eight-month low.


Reuters