US indexes end a turbulent week with a surge; Dow gains 167 as Nike soars on higher earnings
NEW YORK, N.Y. – U.S. stocks are closing out a turbulent week with a solid gain.
The Dow Jones industrial average rose 167 points, or 1 per cent, to 17,113 Friday, making up much of its loss from the day before. Nike soared 12 per cent, the most in the Dow, after reporting higher earnings.
The Standard & Poor’s 500 rose 16 points, or 0.9 per cent, to 1,982. The Nasdaq rose 45 points, or 1 per cent, to 4,512.
The surge comes at the end of a roller-coaster week for the market. The S&P 500 lost 1.4 per cent, its biggest weekly loss since early August.
Janus Capital Group soared 43 per cent after announcing it had hired star bond fund manager Bill Gross.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.53 per cent.
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