Big gain in industrial stocks pushes US indexes sharply higher the end of a wild week
NEW YORK, N.Y. – U.S. stock indexes are closing out a wild week with a big gain.
Industrial stocks like Textron and General Electric led the charge higher Friday after reporting strong earnings.
The Dow Jones industrial average jumped 263 points, or 1.6 per cent, to 16,380. The Dow was coming off six straight losses and ended the week down 1 per cent.
The Standard & Poor’s 500 rose 23 points, or 1.3 per cent, to 1,886. The Nasdaq rose 41 points, or 1 per cent, to 4,258.
The market had huge swings this week including several sharp drops as investors worried about slowing economic growth and plunging oil prices. On Friday European markets recovered, as did the price of oil.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.20 per cent.
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