A bull and a bear statue stand outside the Frankfurt Stock Exchange in Frankfurt, Germany, on Wednesday, July 10, 2013. European stocks advanced to a five-week high after Federal Reserve Chairman Ben S. Bernanke said the U.S. economy will continue to need stimulus measures. Photographer: Ralph Orlowski/Bloomberg via Getty Images
Wall Street’s main stock indexes climbed more than 1 percent on Friday, giving investors some solace after a week of huge swings that shook the market out of months of calm.
Even with Friday’s gains, the benchmark S&P 500 fell 5.2 percent for the week, its biggest weekly percentage drop since January 2016, as volatility spiked back up.
During Friday’s session alone, the S&P 500 swung from as high as up 2.2 percent to down 1.9 percent, echoing the big swings of the past week. The Dow moved in a range of more than 1,000 points.
The fresh volatility came a day after the benchmark S&P 500 and the Dow industrials confirmed they were in correction territory, both falling more than 10 percent from Jan. 26 record highs.
Friday’s session marked the latest day of sharp swings in the past week that have pulled stocks lower after a steady climb for months to record highs.
The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55 and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.