US stocks rise toward the finish of a record-breaking week

NEW YORK (AP) — U.S. stocks are rising toward the finish of their record-setting week on Friday, even as other financial markets remain indecisive.

The S&P 500 rose 0.6% and clawed back most of its two straight days of losses since setting its all-time high. The Dow Jones Industrial Average was up 388 points, or 0.8%, as of 12:47 p.m. Eastern time, and the Nasdaq composite was 0.6% higher.

The moves were tentative as oil prices continue to yo-yo because of uncertainty about when the war with Iran will allow the global energy industry to return to normal. The price for a barrel of Brent crude bounced between $102.50 and $105 in the morning, and it was most recently at $104.15, down 0.1%.

Treasury yields flipped up and down in the bond market following their own sharp moves earlier in the week. The yield on the 10-year Treasury was most recently at 5.24%, up from 5.22% late Thursday.

It recently touched its highest level since 2002 because of worries about high inflation, the U.S. government’s massive debt load, signals that the U.S. economy is continuing to grow and other factors.

High yields threaten to slow the economy by making borrowing money more expensive for everyone, and the average 30-year fixed-rate mortgage has already leaped to its highest level in nearly three years.

Yields are also shooting higher in other bond markets around the world, which make investors less willing to pay high prices for stocks and other investments. But the high yields have attracted investors to recent auctions of Treasurys, and that demand is helping to limit further increases for yields.

On Wall Street, Humana rallied 12.5% and helped lift the U.S. stock market despite the pressure coming from the oil and bond markets. The insurer said it received encouraging data about its quality ratings versus its competitors for Medicare Advantage plans.

Companies that own cell towers were also at the front of the market, including leaps of 13.5% for Crown Castle and 7.9% for American Tower.