Dow Jones adds over 650 pts, maintains fourth weekly straight gain

US indices rose on Friday as Treasury yields declined amid expectations of a "soft landing" scenariofollowing the strong economic recovery in Q2 and slowdown in inflationary pressures. 

The Dow Jones Industrial Average leapt1.65%, or 654points, to settle at 40,589 points,maintaining its uptrend for the fourth straight week.

The S&P 500 index increased 1.1%, or 59 points, to 5,459 points, but recorded a second straight weekly loss. The Nasdaq Composite Index lost 1%, or 176 points, to 17,357 points.

As for European markets, the STOXX Europe 600 inched up 0.85% to 512.8 points.

The British FTSE index gained1.2% to close at 8,285 points, while the German DAX index rose 0.65% to 18,417 points, and the French CAC 40 index advanced 1.2% to 7,517 points.

The Nikkei index fell0.55%, or 202 points, to 37,667 points, and the broader Topix index dropped 0.4% to 2,699 points.

Brent crude futures for September delivery dropped 1.5%, or $1.24, to $81.13 per barrel, with a weekly loss of 1.8%.

WTI crude for June delivery fell1.45%, or $1.12, at $77.16 per barrel, losing 1.9% this week.

Regarding gold, futures prices for August delivery increased by 1.15%, or $27.5, to $2,381per ounce.