Stocks shook off a weak start and ended higher on Wall Street even as worries about banks on both sides of the Atlantic continue to weigh on markets.
The S&P 500 rose 0.6% Friday, marking its second straight weekly gain. The Dow Jones Industrial Average and the Nasdaq composite also rose. Treasury yields stabilized after an early drop.
Markets have been turbulent recently on worries that banks are weakening under the pressure of much higher interest rates. That’s led to rising concerns about a recession and uncertainty about what central banks will do with interest rates going forward.
The S&P 500 rose 22.27 points, or 0.6%, to 3,970.99.
The Dow Jones Industrial Average rose 132.28 points, or 0.4%, to 32,237.53.
The Nasdaq composite rose 36.56 points, or 0.3% to 11,823.96.
The Russell 2000 index of smaller companies rose 14.63 points, or 0.9%, to 1,734.92.
For the week:
The S&P 500 is up 54.35 points, or 1.4%.
The Dow is up 375.55 points, or 1.2%.
The Nasdaq is up 193.45 points, or 1.7%.
The Russell 2000 is up 9.03 points, or 0.5%
For the year:
The S&P 500 is up 131.49 points, or 3.4%.
The Dow is down 909.72 points, or 2.7%.
The Nasdaq is up 1,357.48 points, or 13%.
The Russell 2000 is down 26.32 points, or 1.5%.
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