All three major indexes closed at new highs on Friday, highlighting equities’ strong recovery a day after one of the sharpest selloffs since mid-June. On a preliminary basis, the S&P 500 index SPX, +1.13 percent closed 1.1 percent higher at around 4,370, the Nasdaq Composite [c: COMP] gained roughly 1% at around 14,700, and the Dow Jones Industrial Average DJIA, +1.30 percent climbed 450 points, or 1.3 percent, at around 34,869, and the Dow Jones Industrial Average DJIA, +1.30 percent climbed 450 points, or 1.3 percent, at around A day after posting their worst daily decline since June 18, all three indexes closed at new highs. Concerns about the economy fueled the falls, which came amid the spread of the delta variation of COVID-19 and as the 10-year TMUBMUSD10Y, 1.359 percent and 30-year TMUBMUSD30Y, 1.991 percent Treasury rates touched their lowest levels since February. However, Treasury rates, which move in the opposite direction of prices, increased. President Joe Biden issued an executive order to limit corporate domination and foster competition, which boosted stock prices. Shares of Stamps.com Inc. STMP, +63.98 percent soared about 63 percent after the company announced an agreement to be purchased by software investment firm Thoma Bravo in a cash deal valued at $6.6 billion./n
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