U.S. stocks rallied on Friday after a surprise interest-rate cut from the People’s Bank of China and a string of better-than-expected earnings from heavyweight tech companies. The main indexes booked a fourth straight weekly gain with the majority of gains coming from technology and industrials companies. The S&P 500 closed 22.65 points, or 1.1%, higher at 2,075.16 and gained 2.1% over the week. The benchmark index turned positive for the year. The Dow Jones Industrial Average rose 157.81 points, or 0.9%, to 17,646.97 and ended the week with a 2.5% gain. The Nasdaq Composite advanced 111.81 points, or 2.3%, to 5,031.86, and gained 3% over the week, its strongest weekly advance since July.
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From:: Stock Market News