ASX200 rebounds 2.2%; CSL, BHP rise; Newcrest sinks 6.4%

Local shares rose 2.2% to close out a volatile week, bond yields cooled slightly and the Aussie dollar hit a seven-week low.

The market entered a technical correction on Thursday after a volatile day of trading. Picture: NCA NewsWire/Joel Carrett

Welcome to the Trading Day blog for Friday, January 28. ASX traded higher in volatile session that seen wild swings.  Shares in Ramelius fell as WA's closed border hits the company's guidance and Block drops on reports Apple is set to launch a rival product.

The S&P/ASX 200 closed up 2.18 per cent or 149.8 points to 6988.1.

The Dow Jones Industrial Average is finished down by 0.02 per cent, the S&P 500 by 0.5 per cent and the tech-heavy Nasdaq slipped of 1.4 per cent.

Iron ore added 0.5 per cent to $US138.75 per tonne.

The Brent crude price slipped 0.7 per cent to $US89.34 a barrel, while the US Nymex crude price fell by 0.8 per cent to $US86.61.