U.S. equities posted their largest weekly gains in a month last week as beaten down growth stocks surged while long-term interest rates dipped lower.

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Stocks rebounded higher on Friday and snapped a five-day losing streak thanks to stronger than expected retail sales data and a moderation in inflation expectations. Financial stocks paced Friday's gains, with Citigroup surging 13% as it reported the best second-quarter results of any big bank so far.

U.S. equities posted strong gains last week to kick off the third quarter after one of the worst first-half performances for financial markets in decades in which the S&P 500 tumbled 20% and the Bloomberg U.S. Aggregate Bond Index lost over 10%.

A rough second quarter in the market will come to an end this week. Of a positive note is the S&P 500 rose by more than 3% on Friday and gained 6% for the week.