US equity indexes rose, and government bond yields traded mixed after midday on Friday while the dollar appreciated.
The Nasdaq Composite rose 0.2% to 14,088.6, erasing earlier declines. The S&P 500 gained 0.2% to 4,545.3, and the Dow Jones Industrial Average climbed 0.2% to 35,282.8.
The Dow headed for the 10th straight gains. The Nasdaq 100 index will have a special rebalance effective Monday that will dilute the impact of the largest stocks in the index.
Utilities, healthcare and energy paced he gainers intraday. Communication services led the decliners.
The US two-year yield advanced less than 1 basis point to 4.85%, while the 10-year rate fell 2.3 basis points to 3.83% intraday.
The dollar appreciated 1.1% against the Japanese yen to 141.66.
"The dollar has been sold in recent weeks, mainly predicated on a gradual shift in the market's view toward a soft landing in the US," Oxford Economics said in a note. "Less robust growth elsewhere, especially in Europe and China, means that more stable, even if moderating, growth in the US will be a net positive for the dollar over the rest of H2."
West Texas Intermediate crude oil jumped 1.8% to $77 per barrel intraday.
Chinese authorities unveiled measures Friday to support sales of automobiles and electronics, aiming to boost a sluggish economy, Reuters reported. The country is the world's largest oil importer. Regions will be encouraged to increase annual car purchase quotas and support the sales of second-hand vehicles, the news report said, citing a statement from 13 government agencies.
In company news, Interpublic Group's (IPG) shares fell 12% intraday, the biggest drop on the S&P 500, after the company reported lower second-quarter revenue.
Sirius XM Holdings (SIRI) shares slumped 10%, the steepest decline on the Nasdaq, after multiple analyst downgrades. Seaport Global downgraded the company's stock to sell from neutral, while Evercore ISI Group cut it to underperform from in line. Pivotal Research lowered the rating to sell from hold.
American Express (AXP) logged higher second-quarter earnings that beat estimates, but growth in revenue fell short of market expectations. The company plans to set aside more money to cover potential credit losses. The shares dropped 3.3% intraday, the biggest decline on the Dow.
Gold was down 0.3% to $1,965.71, and silver was 0.4% lower at $24.86.
