U.S. bounced back from correction territory to close higher on Friday but the market still posted hefty losses for the week.
All main indexes rallied in the afternoon with technology, real estate and energy sectors leading the gains while 27 out of 30 Dow stocks finished higher. Friday's rebound comes as the CBOE Volatility Index stabilized to fall 7.5% to 30.95 after spiking on Thursday. The Dow rose 335 points, or 1.4%, to close at 24,196 for a weekly drop of 5.2%. The S&P 500 climbed 38 points, or 1.5%, to end at 2,619, down 5.2% for the week, while the Nasdaq Composite Index advanced 97 points, or 1.4%, to 6,874 but posted a weekly loss of 5.1%.
Source : Marketwatch