NEW YORK (AP) — Stocks are closing higher on Wall Street, led by big gains in bank stocks.
Financial stocks were bouncing back Friday following a big drop a day earlier as worries eased over the outlook for Deutsche Bank, Germany's biggest lender.
Deutsche Bank's U.S.-listed shares jumped 14 percent, and major U.S. banks also rose. JPMorgan Chase was up 1.4 percent.
Consumer stocks also did well following a strong earnings report from Costco, which jumped 3.4 percent.
The Dow Jones industrial average rose 164 points, or 0.9 percent, to 18,308.
The Standard & Poor's 500 index gained 17 points, or 0.8 percent, to 2,168. The Nasdaq composite climbed 42 points, or 0.8 percent, to 5,312.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.60 percent.