U.S. stocks closed sharply higher Friday, with the three major indexes rising between 1.7 and 2 percent, as U.S. and European bank stocks rebounded and crude-oil futures jumped more than 10 percent from 12-year lows. U.S. stocks fell sharply this week. The Dow industrials and broader Standard & Poor's 500 are down more than 8 percent in the first six weeks of 2016, while the technology-heavy Nasdaq is down more than 13 percent. On Friday, investors digested U.S. economic data. Retail sales rose 0.2 percent in January, the same as the previous month, as sales of autos and at online retailers offset sales at gasoline stations. In a second report, business inventories rose 0.1 percent in December. The U.S. dollar posted sharp gains against the yen and euro. Gold futures, which jumped more than $50 on Thursday, fell $8.40 on Friday to $1,239.40 an ounce on the New York Mercantile Exchange. The Dow Jones industrial average rose 313.66, or 2 percent, to 15,973.84. All 30 of the index's components rose, led by financial stocks. J.P. Morgan Chase jumped 8.3 percent after chief executive Jamie Dimon said he would by $25 million in company shares. Goldman Sachs gained 3.9 percent, Travelers advanced 3.6 percent, and American Express rose 3 percent. The S&P 500 rose 35.70, or 1.95 percent, to 1,864.78. Financials led nine sectors higher, gaining 3.4 percent, and utilities was the only declining sector. Despite Friday's advance, the index lost 3 percent during the week. The Nasdaq composite index rose 70.67, or 1.7 percent, to 4,337.51. Shares of Apple rose 0.3 percent, far below most other big technology shares. For the week, the index lost 1 percent.
