Wall Street stocks finished a lackluster week on a positive note on Friday, rallying in a wave of bargain-hunting and cutting their losses for the week.
Major indices still were in the red for the week, but all 11 sectors of the S&P 500 advanced, led by technology, utilities and communications services.
The market is still operating with a “buy the dip mentality,” said TD Ameritrade’s JJ Kinahan. “It’s the same trend seen most of the year, and this time it came despite worries about Fed policy, the Delta variant and a slowdown in China.”
The broad-based S&P 500 gained 0.8 percent to 4,441.67, but down 0.6 percent for the week.
The Dow Jones Industrial Average climbed 0.7 percent to 35,120.08 while the tech-rich Nasdaq Composite Index jumped 1.2 percent to 14,714.66.