US stocks incur weekly losses

Key U.S. stock indexes closed higher on Friday, but posted weekly losses amid investor concerns over volatility in government bond yields and a lack of clarity on progress in the Middle East.

The S&P 500 and Nasdaq indexes broke a three-week winning streak, while the Dow Jones Industrial Average suffered losses for a second consecutive week.

Stock investors based their decisions on the trajectory of U.S. Treasury yields in recent sessions, where the prospect of higher borrowing costs dampened risk appetite.

U.S. Treasury Secretary Scott Bessent said on Thursday that the government might increase its Treasury buyback operations following an unexpected announcement on Wednesday that it would spend twice the expected amount on buybacks.

Chris Zaccone, chief investment officer at Northlight Asset Management in Charlotte, North Carolina, said: “We went through a somewhat volatile week, marked by both upward and downward swings due to rising Treasury yields and the intervention of Treasury Secretary Bessent.”