U.S. stocks closed higher Friday, with all three major benchmarks booking weekly gains as investors shook off concerns about credit losses at regional banks and trade tensions.
The Dow Jones Industrial Average increased 238.37 points, or 0.5%, to close at 46,190.61.
The S&P 500 gained 34.94 points, or 0.5%, to end at 6,664.01
The Nasdaq Composite climbed 117.44 points, or 0.5%, to finish at 22,679.97.
The S&P 500 saw its biggest weekly percentage gain since August, despite regional banking stocks falling under pressure this week amid concerns over some bad loans. Investors also seemed encouraged by President Donald Trump’s remarks Friday suggesting a potential increase in tariffs on Chinese goods might not be as high as recently feared.
For the week, the Dow rose 1.6%, the S&P 500 advanced 1.7% and the Nasdaq gained 2.1%. The S&P 500 booked its best week since the stretch ending Aug. 8, according to Dow Jones Market Data.