NEW YORK — U.S. stocks climbed Friday as banks made a rapid recovery following a steep fall a day ago. Investors hoped Deutsche Bank and the financial system in general were in better shape than they had feared.
The Dow Jones industrial average surged 164.70 points, or 0.9 percent, to 18,308.15.
The Standard & Poor’s 500 index gained 17.14 points, or 0.8 percent, to 2,168.27.
The Nasdaq composite added 42.85 points, or 0.8 percent, to 5,312.
For the week:
The Dow climbed 46.70 points, or 0.3 percent.
The S&P 500 picked up 3.58 points, or 0.2 percent.
The Nasdaq rose 6.26 points, or 0.1 percent.
For the year:
The Dow is up 883.12 points, or 5.1 percent.
The S&P 500 is up 124.33 points, or 6.1 percent.
The Nasdaq is up 304.59 points, or 6.1 percent.