U.S. stock indexes closed their best week in two months with a flourish on Friday. The S&P 500 climbed 1% to clinch its first winning week in the last three. The Dow Jones Industrial Average rose 334 points,

The U.S. stock market will be closed on Monday in observance of Martin Luther King Jr. Day, so equity traders won't be able to immediately react to what President-elect Donald Trump says in his inaugural address. The bond market will also be closed.

Bond yields dipped for a third day on Friday, bringing some relief to investors after they watched the 10-year approach 5% in recent weeks.

Stocks closed out the week with a bang as Treasury yields retreated from recent highs. Optimism is swirling ahead of President-elect Donald Trump's inauguration on Monday, which also happens to be a stock market holiday. Indeed, both the equities and bond markets will be closed in observance of Martin Luther King Jr. Day.

Major U.S. equity averages finished higher Friday, leaving Wall Street with its best week since November, with stocks largely bolstered this week by cooler-than-expected inflation data.  The benchmark S&P 500 (SP500) ended +1% at 5,