A late-afternoon turnaround on Wall Street left stocks higher Friday as the market shook off a weak start amid worries about banks on both sides of the Atlantic.
The S&P 500 rose 0.6 percent after slipping for most of the morning. The benchmark index marked its second straight weekly gain. The Dow Jones Industrial Average rose 0.4 percent, while the Nasdaq composite ended 0.3 percent higher.
The upbeat close to the week came as markets have been turbulent on worries that banks are weakening under the pressure of much higher interest rates. That’s led to rising concerns about a possible recession and heavy uncertainty about what the Federal Reserve and other central banks will do with interest rates going forward….