The 30-stock index leaped 176,24 points to conclude Friday at 35,458.96.
The S&P 500 Index rebounded 44.77 points to 4,582.18.
The NASDAQ index popped 266.55 points, or 1.9%, to 14,316.66.
All three major averages enjoyed weekly gains with the 30-stock average up by 0.7%. On Thursday, the Dow ended a 13-day win streak, a length not seen since 1987. The S&P is on track to advance 1%, and the tech-heavy index is up 2%.
Earnings season continued with Dow member Procter & Gamble shares gaining nearly 3%. The consumer goods company behind Tide and other brands beat analysts’ earnings and revenue expectations in its most recent quarter.
Intel jumped 6.6% as investors applauded a return to profitability, while Roku climbed 31% after beating Wall Street expectations on both the top and bottom lines.
On the other hand, Ford Motor shares fell 3.4% even though the automaker beat estimates and raised guidance. The company said its electric vehicle adoption was taking longer than expected due to higher costs.
June data for the personal consumption expenditures price index continued to show easing inflation. The gauge showed PCE gained 0.2% month-over-month, in line with the 0.2% increase expected by economists polled by Dow Jones. Core PCE rose 4.1% from the year-ago period, lower than the anticipated 4.2%.
The data is of particular interest after the central bank raised interest rates earlier this week in a widely expected move. The Fed targets inflation at 2% annually.
Prices for the 10-year Treasury jumped, lowering yields to 3.96% from Wednesday’s 4.01%. Treasury prices and yields move in opposite directions.
Oil prices resurged 35 cents to $80.44 U.S. a barrel.
Gold prices climbed $13.00 to $1,958.70 U.S. an ounce.