U.S. stocks rose sharply yesterday, accelerating at the end of the session, led by cyclical stocks that benefit from reopening. The Dow industrials and broader Standard & Poor's 500 posted modest weekly gains of 1.6 and 1.4 percent, respectively, while the technology-heavy Nasdaq lost 0.6 for the week. In U.S. economic news, consumer spending fell a bigger-than-expected 1 percent in February amid severe winter weather, while personal income plunged 7.1 percent as the stimulus faded from direct payments to households the month before. The U.S. dollar was steady near a four-month high versus a basket of currencies, supported by hopes on improving U.S. economic data and the availability of vaccines. Gold rose slightly, with futures advancing 0.1 percent to $1,726.30 an ounce on the New York Mercantile Exchange, but the stronger dollar and a rise in U.S. Treasury yields caused the metal to post its first weekly loss in three. Oil rebounded from a sharp plunge the previous session on concerns that a huge container ship that ran aground in the Suez Canal may block the vital shipping lane for weeks, squeezing supply. West Texas Intermediate (WTI) crude futures surged 4.1 percent to $60.97 a barrel after dropping 4.3 percent Thursday. The contract posted its third consecutive weekly loss. The Dow Jones industrial average rose 453.40, or 1.4 percent, to 33,072.88. Twenty-seven of the index's 30 components gained, led by Intel and Cisco Systems, which surged 4.6 and 4.1 percent, respectively. Nike climbed 3.4 percent, and seven other Dow components advanced more than 2 percent. The S&P 500 index rose 65.02, or 1.7 percent, to 3,974.54. Energy and materials were the best performing sectors, gaining over 2 percent each. The Nasdaq composite index rose 161.04, or 1.2 percent, to 13,138.73. Facebook climbed 1.5 percent, Netflix gained 1 percent, Apple advanced 0.5 percent, and Amazon added 0.2 percent. Tesla lost 3.4 percent, and Google-parent Alphabet declined 0.4 percent.