Stocks retreat but post modest weekly gains

  • Stocks retreat but post modest weekly gains

    All three of the major stock market averages fell on Friday as the 10-year Treasury yield topped 3.5%, the highest level since March, after a slew of bank earnings and a drop in retail sales. The Dow Jones Industrial Average paced the selling with Boeing shares the biggest drag, off 5%. In commodities, oil rose 2% for the week to $82.52 per barrel, the second highest level of the year. Bitcoin also topped $30,000 this week, the highest level since June of last year.

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