The rise in shares of financial and energy companies boosted the S&P 500 on Friday, putting the index on track to end a volatile stretch with little weekly earnings.
The S&P 500 rose 0.5% in morning operations. The Dow Jones Industrial Average totaled about 160 points, or 0.5%. The Nasdaq Composite, which has a lot of technology, added about 0.2%.
Shares have struggled to orient themselves in recent sessions as investors have weighed signals that the U.S. economy is poised for a period of rapid growth amid concerns about rising bond yields.
Below the surface, there have been large movements in individual stocks and sectors. The recent rise in bond yields has coincided with rising interest in some of the momentum-driven operations that had dominated for much of last year.
Investors have withdrawn from both tech-savvy and special-purpose acquisition companies, known as SPACs. An ETF-derived ETF to track exchange-traded funds fell about 8.7% this week. Facebook and Netflix shares have fallen 3.3% and 1.6%, respectively, over this time period.