# Wall Street Bounces Hard Friday, But Weekly Pain Stays Real

Stocks had one of those days—started slow, then just kept climbing. By close, the Dow was up 493 points (1.1%), Nasdaq gained 195 points (0.9%), and S&P 500 added 64 points (1.0%). Solid rebound from Thursday's bloodbath.

But here's the catch: **the week still hurts**. Nasdaq down 2.7% for the week, S&P 500 off 2.0%, Dow dropped 1.9%. So that Friday pop? More like a pain killer than a cure.

**What sparked the rally?**

Rate cut fever. Traders are now pricing in a **71.5% chance** the Fed cuts rates in December (was only 39.1% on Thursday). New York Fed President John Williams dropped some dovish hints, saying policy is "modestly restrictive" and there's "room for adjustment." That lit up the market.

Also helping: inflation expectations cooled in November, per University of Michigan data. Cheap valuations after the week's selloff didn't hurt either—bargain hunters were out.

**Sector winners**: Housing stocks crushed it (+4.0%), airlines popped (+3.0%), biotech and oil services also rallied.

**Global snapshot**: Asia took it on the chin—Japan's Nikkei and Hong Kong's Hang Seng both slid 2.4%, South Korea's Kospi nosedived 3.8%. Europe was mixed: Germany down 0.8%, UK barely up, France flat.

**Bond market moving**: 10-year yield dropped 4.3 basis points to 4.063%.

Next week's wildcard? Retail sales, producer prices, and durable goods data. Could be spicy.