U.S. stocks ended higher on Friday, extending their biggest weekly percentage gains this year as fears of an economic slowdown eased and investors focused on next week’s Jackson Hole economic symposium.
The S&P 500 and Nasdaq notched their seventh straight gains as stocks recovered from a steep selloff two weeks ago. The selloff, fueled by weak economic data and growing recession fears, confirmed the Nasdaq had entered correction territory.
The three indexes posted their biggest weekly percentage gains in months, with the S&P 500 and Nasdaq posting their first weekly gains in five weeks.
The Dow Jones Industrial Average rose 96.7 points, or 0.24%, to 40,659.76. The S&P 500 also gained 11.03 points, or 0.20%, to 5,554.25. The Nasdaq Composite Index rose 37.22 points, or 0.21%, to 17,631.72.
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