US Stock Indices End Week Lower On Pressure From Elevated Long-Duration Treasury Yields — PSKY, MSTR, WMT, TSLA, NVDA In Focus

US stock indices climbed higher on Friday amid positive business-activity data, but ended the week lower as elevated Treasury yields weighed on risk sentiment.The S&P 500 ended Friday 0.4% higher, while the Nasdaq 100 rose 0.3% and the Dow Jones Industrial Average climbed 1%. The Russell 2000, which tracks stocks with small market capitalizations, gained 0.9%.However, all three benchmark indices ended the week lower, with long-duration yields (US30Y) rising for the second consecutive week, primarily owing to the Treasury Department’s plan to buy back bonds.Among ETFs tracking benchmark indexes, the  rose 0.4%, and  (QQQ) ended Friday 0.3% higher, while the  (DIA) was up 1%.Meanwhile, the VanEck Semiconductor ETF (SMH) dropped 0.5%, with Micron Tech (MU) and Nvidia (NVDA) leading declines. The broader Vanguard Information Technology ETF (VGT) inched 0.1% higher.Retail sentiment on Stocktwits for QQQ, SPY, and DIA was ‘bearish’ with ‘high’ message volumes.US Market DriversIndexMoveCloseDow Jones Industrial Average1%53,277.01 S&P 5000.4%7,674.37 Nasdaq 1000.3%29,308.86 Investor confidence got a mild boost on Friday after an S&P Global gauge showed U.S. business activity grew at its fastest pace in more than four years.In parallel, Bitcoin extended its winning streak to a fifth consecutive day, jumping as much as 9.4% to top $79,000—its sharpest single-day gain since February. Shares of Strategy Inc. advanced 6.1%, with other crypto-adjacent stocks following suit.“The strong trigger in Bitcoin was driven by the Treasury’s move to buy back bonds at the longer end of the yield curve,” Bernstein analysts wrote in a note, referring to the Treasury Department’s announcements this week. “We are not macro experts, but we do know Bitcoin historically has had a positive reaction to liquidity expansion.”On Friday, longer-dated yields continued their ascent, with the 10-year Treasury note yield gaining more than 3 basis points to 4.734%. The 30-year Treasury bond yield also advanced more than 3 basis points to 5.273%.Key Trending StocksParamount Skydance (PSKY): California Governor Gavin Newsom has reportedly said he would prefer a settlement of the state attorney general’s lawsuit opposing Paramount Skydance Corp.’s (PSKY) $110-billion acquisition of Warner Bros. Discovery Inc. (WBD)Nvidia Corp. (NVDA): The chipmaker reached an agreement to license artificial intelligence software from startup Poolside for $6 billion and plans to extend employment opportunities to more than 100 of the firm's staff, according to a report by Bloomberg.Walmart (WMT): Major Wall Street brokerages are advising investors to capitalize on Walmart’s steepest stock drop in four years, maintaining that the retail giant’s long-term growth story remains intact.Strategy (MSTR): Bitcoin’s (BTC) move above $77,000 pushed the company’s massive Bitcoin holdings back into unrealized profit.Tesla (TSLA): Tesla (TSLA) is set to recall nearly three million Model 3 and Model Y vehicles in China over issues with its emergency mechanical door handles and driver monitoring systems.