Dow jumps 500 points, but stocks are still headed for a losing week: Live updates

JUST IN: Dow jumps 500 points as stocks rebound from a steep sell-off, but Wall Street is still on track for a losing week amid rising Treasury yields.

The Dow jumped 500 points today, and it's still a losing week. That's Wall Street right now, a rebound that doesn't quite rescue anything.

Traders on the floor got a breather at last, healthcare did the heavy lifting with Merck and Johnson and Johnson, and crypto names ran hot, Robinhood up 13 percent, Coinbase up 7, with Bitcoin heading for a 23 percent weekly gain. But zoom out and the S&P is off more than 1 percent on the week, the Nasdaq down 2, both snapping three-week win streaks.

The villain is the bond market. The 10-year yield climbed to 4.73 percent, the 30-year past 5.27, and one strategist warned that a break toward 6 or 7 would get ugly fast.

So all eyes turn to Jackson Hole next week, where Fed Chairman Kevin Warsh speaks. One speech, and this whole bounce either holds or evaporates.

This is Sara White, reporting for HIT.