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The Dow Jones Industrial Average rose in volatile trade Friday as stocks regained their footing following a steep selloff this week.
The 30-stock index recovered 287.16 points, or 1.2%, to finish the week at 25,339.99
On Thursday, Wall Street closed sharply down, with the Dow falling over 540 points, bringing its two-day losses to more than 1,300 points.
The S&P 500 advanced 38.76 points, or 1.4%, to 2,767.13
The NASDAQ thundered higher 167.83 points, or 2.3%, to 7,496.89
The Dow and S&P 500 were both down nearly 5% this week while the NASDAQ tumbled 4.6%.
Gains in tech shares like Netflix and Amazon initially led the major indexes to sharp gains. Netflix gained 4.3%, while Amazon climbed 2.6%.
Wells Fargo and Citigroup both reported better-than-expected earnings, along with J.P. Morgan Chase, to kick off the third quarter earnings season. Expectations for this earnings season are high. Analysts expected S&P 500 earnings to grow by 19%.
Prices for the benchmark for the 10-year U.S. Treasury lost some ground, raising yields to 3.16% from Thursday’s 3.15%. Treasury prices and yields move in opposite directions.
Oil prices regained 56 cents at $71.53 U.S. a barrel.
Gold prices dropped six dollars to $1,221.60 U.S. an ounce.
