Snapback Rally Lifts Stocks (SPY, QQQQ, GLD, USO, TLT, UUP)

The stock market got off to a shaky start on Friday, but rose throughout the session to recoup some of Thursday's losses. The S&P and Dow have now retaken the 1,300 and 12,000 levels respectively. The Dow gained 60 points to close at 12,044. The widely watched blue-chip index traded in a range between 11,936 and 12,087.

The SPDR S&P 500 ETF SPY added 0.69% to $130.84. Volume was heavy with more than 222 million SPY shares trading hands compared to a 3-month daily average of 145.5 million.

The PowerShares QQQ Trust ETF QQQQ, which tracks the performance of the Nasdaq 100, added 0.62% to close at $56.49. Year-to-date, the QQQQ is up 3.73%.

Gold rose on Friday. COMEX gold futures gained 0.37% to $1,417.70. The SPDR Gold Trust ETF GLD added 0.33% to $138.22 in NYSE trading.

Treasuries fell as money moved out of U.S. debt and into riskier assets. The iShares Barclays 20+ Year Treasury Bond ETF TLT lost 0.57% to $91.55. The yield on the 10-Year Note rose 4.4 basis points to 3.40%.

The U.S. Dollar resumed its downward trend on Friday. The PowerShares DB US Dollar Index Bullish ETF UUP, which tracks the performance of the greenback versus a basket of foreign currencies, lost 0.72% to $22.03. The closely watched EUR/USD pair is currently trading at $1.3903.