US stocks and bond yields rose on Friday as investors analyzed recent data on the economy.
The S&P 500 was up 0.2%. The Nasdaq Composite added 0.5%. The Dow Jones industrial average added about 44 points, or 0.1%.
Stocks have been under pressure in recent days as concerns about the pace of the economic recovery, high valuations of tech stocks and rising bond yields weighed on sentiment.
“Investors are taking a little hiatus,” said Arthur van Slooten, global asset allocation strategist at Société Générale. “We believe that much remains to be done. When reflation resumes and there is more confidence about it, we will see a continuation of the market performance that we have had ”in recent weeks, he added.
In bond markets, the yield on the 10-year Treasury note rose to 1,323%, from 1,286% on Thursday. Yields have risen this week, prompting some investors to question whether risky assets like stocks look less attractive, said Kiran Ganesh, multi-joint strategist at UBS Global Wealth Management.