The Dow Jones Industrials gained 330.93 points, or 1%, to 33,375.49.
The S&P 500 piled on 73.76 points, or 1.9%, to 3,972.61.
The NASDAQ Composite popped 288.17 points, or 2.7%, to 11,140.43, with help from Netflix and Alphabet, to end the day at 11,140.43.
The NASDAQ was also the outperformer for the week, posting a 0.55% gain and its third positive week in a row. The Dow finished the week lower by 2.7%, and the S&P posted a 0.7% loss, both breaking two-week win streaks.
All the major averages are still in positive territory for the year.
Investors continued to monitor earnings reports and mega cap tech shares led the market higher. Netflix gained about 8.5% after posting more subscribers than expected even though its quarterly earnings missed analysts’ estimates. Alphabet rose more than 5% after the company announced it will lay off 12,000 employees.
Sales of previously owned homes fell for the 11th consecutive month in December, according to the National Association of Realtors.
Existing homes fell to an annualized pace of 4.02 million units in December, down 1.5% month over month and 34% year over year.
Prices for the 10-year Treasury sank, raising yields to 3.50% from Thursday’s 3.40%. Treasury prices and yields move in opposite directions.
Oil prices gained 35 cents to $80.68 U.S. a barrel.
Gold prices edged up four dollars to $1,927.90 U.S. an ounce.
NASDAQ Hikes, Enjoys 3rd Week of Wins