U.S. stock markets closed higher on Friday as reopening stocks and financials made a comeback, leading the benchmark indexes to fresh closing highs. The confidence of market participants was also boosted by the rising treasury yields that allayed concerns about economic slowdown. All the three major stock indexes closed the day in green.How Did The Benchmarks Perform?The Dow Jones Industrial Average (DJI) rose 1.3% or 448.23 points, closing at 34,870.16, a fresh closing high, snapping its losses from Thursday. Notably, 28 components of the 30-stock index ended in green while 2 finished the day in red.The tech-heavy Nasdaq Composite closed the day at 14,701.92, up nearly 1% or 142.13, a record high, reversing its losses from the previous session, on the back of strong performance by large-cap technology stocks. The S&P 500 rose 1.1%, closing the day at 4,369.55, a new record high and terminating losses from Thursday’s session. The Financials Select Sector SPDR (XLF) and the Energy Select Sector SPDR (XLE) gained 2.9% and 2.1%, respectively. All eleven sectors of the benchmark index closed in the positive zone.The fear-gauge CBOE Volatility Index (VIX) was down 14.8% to 16.18. A total of 8.51 billion shares were traded on Friday, lower than the last 20-session average of 10.5 billion. Advancers outnumbered decliners on the NYSE by a 3.77-to-1 ratio. On Nasdaq, a 3.33-to-1 ratio favored advancing issues.Reopening Stocks and Financials Made a ComebackReopening stocks, that is, stocks sensitive to the functioning of the economy as well as financials made a comeback in Friday’s session, following concerns about the global economic recovery amid resurgence in COVID-19 cases across the globe owing to the delta variant, which had worried market participants and led the benchmark indexes lower on Thursday.Shares of travel-related companies or reopening stocks rose in Friday’s session, including Royal Caribbean Group RCL and American Airlines Group Inc. AAL that rose 3.6% and 2.7%, respectively. Bank stocks like Bank of America Corporation BAC and JPMorgan Chase & Co. JPM also rose 3.3% and 3.2%, respectively. All four companies carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Rising Treasury Yields Eased Economic Slowdown ConcernsThe confidence of market participants was also boosted by the rising 10-year Treasury yields which had hit a five-month low on Thursday and moved below 1.25%. On Friday, the 10-year Treasury yields climbed 6.7 basis points and settled at 1.354%, thereby easing concerns among market participants about the economic slowdown.Economic DataThe U.S. Census Bureau reported that total inventories of merchant wholesalers, except for the manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, was up 1.3% to $709.8 billion in May, surpassing the consensus estimate of a rise of 1.1%, and following April’s increase of 1.1%, which was revised upward from 0.8% reported earlier.Weekly RoundupU.S. stock markets saw major indexes rising in Friday’s session to book their third successive week of gains. The Dow rose 0.2% during the week while the Nasdaq Composite and S&P 500 rose 0.4%, respectively. The gain in Friday’s session came after the decline in the previous session when concerns about the global economic recovery worried market participants. The markets had risen in Wednesday’s session after minutes from the U.S. Federal Reserve’s FOMC policy meet showed that the Fed is still looking to pursue the accommodative stance of monetary policy despite higher inflation. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bank of America Corporation (BAC): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research