After a volatile week, the major averages recovered into the close after drifting lower earlier in the day following more quarterly earnings this morning. The Dow Jones Industrial Average rose 51 points or 013%. The S&P 500 rose 24 points or 0.47% while the Nasdaq rose 85 points or 0.51%.

On the earnings front, Paramount Global closed higher after Warner Brothers Discovery had disastrous numbers earlier in the week. Expedia, DXC Tech, News Corp and Sweetgreen were higher on earnings. To the downside, we have E.l.f. Beauty, Capri Holdings and Gilead Science.  

Interest rates were lower even though no economic data today. The yield on the 10-year Treasury fell 6 basis points to 3.938%. The 2 year Treasury fell 2 basis points to 4.02%. Yesterday, initial claims for unemployment insurance totaled 233,000 in the latest week, the Labor Department reported. A lower figure than expected.

Today's quiet close comes on the heels of the most volatile week year to date. At Monday's lows, the S&P 500 was down nearly 10% while the Nasdaq Composite's closed in correction territory, down over 10% from the highs set in July.  The Cboe Volatility Index

Had a wild week reaching heights last seen during the onset of the Covid-19 pandemic and the Great Financial Crisis.

The last two days improved the week's returns, but the S&P 500 still closed lower over five days. The Dow and tech-heavy Nasdaq fell 0.6% and 0.18%, respectively.