Dow closes 225 points higher | Key Fed summit next week | Apple delays return to office

Dip-buying was on full display Friday as the stock market rebounded from the sell-off on worries about the Federal Reserve tapering its bond purchases.

VIEW IN BROWSER | SUBSCRIBE FRI, AUG 20, 2021 EVENING BRIEF AS OF FRI, AUG 20, 2021 • 05:15 ET DJIA 35120.08 +0.65% +225.96 S&P 500 4441.67 +0.81% +35.87 NASDAQ 14714.66 +1.19% +172.88   Most Active DOW NAME LAST CHG %CHG AAPL 148.19 +1.49 +1.02% MSFT 304.36 +7.59 +2.56% INTC 52.01 -0.43 -0.82% S&P 500 NAME LAST CHG %CHG NVDA 208.16 +10.18 +5.14% AAPL 148.19 +1.49 +1.02% AMD 104.65 +0.95 +0.92% NASDAQ NAME LAST CHG %CHG NVDA 208.16 +10.18 +5.14% AAPL 148.19 +1.49 +1.02% AMD 104.65 +0.95 +0.92%   EDITOR'S NOTE Dip-buying was on full display Friday as the stock market rebounded from the sell-off on worries about the Federal Reserve tapering its bond purchases.   The Dow Jones Industrial Average gained 225.96 points to close at 35,120.08, lifted by Microsoft, Cisco and Salesforce. The S&P 500 rose 0.8%, while the Nasdaq Composite climbed nearly 1.2%.    Still, the major averages suffered a losing week after the Fed's July meeting minutes showed that the central bank started considering dialing back its $120 billion a month bond-buying program this year.  The blue-chip Dow fell 1.1%, while the S&P 500 declined nearly 0.6% for the week. The tech-heavy Nasdaq fell 0.7% this week.   "In many ways, the market has become addicted to the Fed's liquidity spigot, and so any mention of tightening policy can cause some indigestion," said Ross Mayfield, investment strategy analyst at Baird.   Next week, Fed officials will meet virtually for their annual economic policy symposium, which is normally held in Jackson Hole, Wyo. Investors will closely watch the event, searching for clues on the timeline and pace for the central bank's reduction of its asset purchases. Yun Li | CNBC Markets and Investing Reporter @YunLi626 TOP NEWS  Dow rebounds more than 200 points, but closes out a losing week Biden addresses evacuation of Americans and Afghan allies from Kabul Capitol Hill bomb threat defendant Floyd Ray Roseberry charged in federal court, detained without bail Biden says flights out of Afghanistan resume, pledges to get all Americans out Topps SPAC merger with Mudrick Capital dies because MLB killed 70-year-old trading card deal Apple delays return to office until January as Covid cases surge U.S. government received 4,176 complaints — and one compliment — about airline travel in June House returns to Washington next week to forge ahead with infrastructure bill, budget plan Top talent departs Jeff Bezos' Blue Origin as NASA lander fight escalates The Fed's plan to taper economic support is just one of several hurdles for the bond market   TOP VIDEO Here's why Morgan Stanley sees Disney and Netflix as top picks   CNBC PRO Why Josh Brown bought this real estate stock that's down more than 50% from its highs   SPECIAL REPORTS This lesser-known tax credit may offer working families a bigger write-off this year Americans have less credit card debt in 2021, but do you know the average balance for your generation?   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS