US equity benchmarks closed higher Friday as an inflation expectations gauge showed signs of easing versus a prior estimate while St. Louis Federal Reserve Bank President James Bullard played down the possibility of a recession.
The Dow Jones Industrial Average climbed 2.7% to 31,500.68, with the S&P 500 up 3.1% to 3,911.77 and the Nasdaq Composite was 3.3% higher at 11,607.62.
All sectors posted gains, led by materials.
The US 10-year yield rose 6.4 basis points to 3.13% after touching 3.49% last week.
West Texas Intermediate crude oil futures climbed 2.9% to $107.31 per barrel but were still well below more than $120 per barrel reached earlier this month.
Gold slipped 0.1% to $1,828.20 per troy ounce.