U.S. Stocks Finish Higher, Preserve Gains For Week

U.S. stocks closed higher Friday, preserving weekly gains in a week characterized by volatile swings in response to China's devaluation and stabilization of the yuan and speculation how this will affect the Federal Reserve's intended rate hike this year. The Dow Jones Industrial Average closed up 69.15 points, or 0.4%, at 17,477.40, for a weekly gain of 0.6%. The S&P 500 Index finished up 8.15 points, or 0.4%, at 2,091.54, for a weekly gain of 0.7%. The Nasdaq Composite Index rose 14.68 points, or 0.3%, to end at 5,048.24, for a weekly gain of 0.1%.