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The Dow’s 506-point surge Thursday and Wednesday’s 338-point jump more than made up for Tuesday’s slight drop and Monday’s 614-point plunge. The S&P 500 also saw back-to-back gains. Three consecutive sessions of Nasdaq gains were recorded. Each of the three benchmark stock stocks were 2% below their latest record closings.

Shares of Dow stock Nike dropped 5% in Friday’s premarket, the morning after the company said global supply chain congestion is hurting the business more than it previously anticipated. The sneaker giant lowered its fiscal 2022 outlook. Nike beat revenue estimates but did not surpass earnings expectations.

Bitcoin plunged Friday, with traders traders rattled by tough talk out of China on cryptocurrencies. In a Q&A posted to its websiteThe People’s Bank of China stated that services which offer trading, order matching and token issuance are prohibited. China’s central bank also stated that overseas crypto exchanges offering services on mainland China are illegal. Bitcoin fell Below $42,000, 7% The stock reached an all time high of over $64,000 in April. However, it fell sharply in July and June. It even dropped to $30,000. Bitcoin had gained ground since mid-July and reached a high of $52,000 just earlier in the month.

The U.S. 10-year Treasury yield rose to more than 1.42% on Friday, back to highs seen in July. The yield, which moves in the opposite direction to price, declined earlier this week when investors sought safety and bought bonds as the deteriorating China Evergrande Group situation slammed stocks Monday. As fears about financial contagion from China’s property giant collapsed faded, U.S. Treasury yields increased and prices fell. Evergrande did not say whether the $83 million payment it made on Thursday’s U.S.-dollar denominated bond was going to be paid. On Wednesday, the developer in trouble made a payment for a local bond.

The head of the Centers for Disease Control and Prevention overruled an advisory panel Friday, approving the distribution of Pfizer‘s Covid boosters to a wide array of workers across the U.S. CDC Director Dr. Rochelle Walensky signed off on a series of recommendations from the panel, including distributing the shots to older Americans and adults with underlying medical conditions at least six months after their second shots. She also approved boosters to be distributed to high-risk workers in institutional and occupational environments, as usual.

Costco‘s chief financial officer said Thursday evening the company is putting some purchase limitations back on key items, including toilet paper, paper towels, bottled water and high-demand cleaning products. Richard Galant, Costco’s chief financial officer stated that the company is imposing the restrictions for different reasons than in earlier pandemics. He stated that a year ago, there had been a shortage in merchandise. They now have plenty of merchandise, but it takes two to three weeks for them to get them delivered. Costco’s latest quarter-end earnings beat all estimates.

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