U.S. Stocks End Higher, Log Second-straight Weekly Losses

By Markets MarketWatch Pulse

U.S. stocks ended Friday's session sharply higher, led by big gains in the financials and oil. Oil futures surged 12%, their biggest one-day gain in seven years. Meanwhile, a rally in J.P.Morgan Chase & Co. and Goldman Sachs Group, Inc. shares led gains on the Dow Jones Industrial Average. However, the main indexes, booked their second consecutive weekly declines due to losses earlier in the week. The S&P 500 gained 35.69 points, or 2%, to 1,864.77 but ended the week 0.8% lower. The Dow Jones Industrial Average jumped 313.66 points, or 2%, to 15,973.84, but booked a 1.4% weekly loss. Meanwhile, the Nasdaq Composite rose 70.67 points, or 1.7%, to 4,337.51 and ended the week 0.6% lower.

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