US stocks end rocky week with a surge; Nike gains
NEW YORK (AP) — U.S. stocks are closing out a turbulent week with a solid gain.
The Dow Jones industrial average rose 167 points, or 1 percent, to 17,113 Friday, making up much of its loss from the day before. Nike soared 12 percent, the most in the Dow, after reporting higher earnings.
The Standard & Poor’s 500 rose 16 points, or 0.9 percent, to 1,982. The Nasdaq rose 45 points, or 1 percent, to 4,512.
The surge comes at the end of a roller-coaster week for the market. The S&P 500 lost 1.4 percent, its biggest weekly loss since early August.
Janus Capital Group soared 43 percent after announcing it had hired star bond fund manager Bill Gross.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.53 percent.