Facebook lifts S&P 500 and Nasdaq as US Treasury yields pause

The S&P 500 and Nasdaq rose on Friday, lifted by Facebook and energy shares as US Treasury yields took a break from a recent surge.
 

Reversing a recent trend, so-called growth stocks mostly outperformed value stocks viewed as more likely to outperform as the economy recovers from the coronavirus pandemic.
 

The yield on US 10-year notes, which has risen sharply in the past seven weeks on growth expectations, hovered near a 14-month peak at $1.742%.
 

"What we see today is a more stable rate environment across the curve after multiple weeks of rising interest rates, and we are