S&P 500 ends up, little changed for week after Monday's steep selloff
All three major indexes gain for the day
Expedia rises after Q2 profit beat
Indexes: Dow up 0.1%, S&P 500 up 0.5%, Nasdaq up 0.5%
Updates to 4:15 p.m. ET
By Caroline Valetkevitch
NEW YORK, Aug 9 (Reuters) -The S&P 500 ended higher on Friday and was little changed for the week after regaining almost all of its lossesfrom Monday's steep dive that was prompted by fears of a recession and unwinding of a global yen-funded carry trade.
The technology sector .SPLRCT gave the index its biggest boost on Friday,and the Cboe Volatility Index .VIX, Wall Street's "fear gauge," fell after surging at the start of the week.
Monday's big decline followed a sharp sell-off last week as a weaker-than-expected July jobs report sparked recession fears, and investors unwound currency carry trade positions involving the Japanese yen.
"Investors are trying to find evidence of a bottom," said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas.
On Thursday, Federal Reservepolicymakers expressed confidencethat inflation was cooling enough to allow rate cuts ahead, and said theywill take their cues on the size and timing of those cuts from the economic data.
The Dow Jones Industrial Average .DJI rose 51.05 points, or 0.13%, to 39,497.54, the S&P 500 .SPX gained 24.85 points, or 0.47%, to 5,344.16 and the Nasdaq Composite .IXIC added 85.28 points, or 0.51%, to 16,745.30.
For the week, the S&P 500 was down 0.05%, the Dow was down 0.6% and the Nasdaq was down 0.2%.
"There is going to continue to be a significant amount of uncertainty and anxiety hanging over the market for the course of the next month until we get to the next Fed meeting," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
Investors see a 55% chance that the Fed will cut interest rates by 50 basis points at its next policy meeting on Sept. 17-18, with a 25 basis point cut seen as having a 45% probability, according to the CME Group's FedWatch Tool.
Investors also awaitnext week's readings on U.S.consumer prices and retail sales for July, which could provide fresh evidence on the chances of a soft landing for the American economy.
Among individual stocks, videogame publisher Take-Two Interactive Software TTWO.O climbed 4.4% asit expects net bookings to grow in fiscal years 2026 and 2027.
Expedia EXPE.O also advanced 10.2% afterthe online travel agency beat analysts' expectations for second-quarter profit.
Volume on U.S. exchanges was 11.13 billion shares, compared with the 12.59 billion average for the full session over the last 20 trading days.
Advancing issues outnumbered declining ones on the NYSE by a 1.39-to-1 ratio; on Nasdaq, a 1.14-to-1 ratio favored decliners.
The S&P 500 posted 15 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 52 new highs and 159 new lows.
Most S&P 500 sub-sectors set for weekly losses https://tmsnrt.rs/4dg835k
Wall Street's "fear gauge" saw sharp upswings this week https://tmsnrt.rs/4dg7TuG
Additional reporting by Shubham Batra and Shashwat Chauhan in Bengaluru; Editing by David Gregorio
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