US stocks closed higher on Friday, at the end of a turbulent week, as US Federal Reserve officials reassured investors about a potential liquidity crunch in the banking sector, Reuters reported.
The Standard & Poor’s 500 closed up 22.63 points, equivalent to 0.57%, to 3971.35, up 1.39% for the week.
The Nasdaq Composite rose 36.76 points, or 0.31%, to 11824.16, up 1.66% on the week.
The Dow Jones Industrial Average rose 137.48 points, or 0.43 percent, to 32,242.73 for a weekly gain of about 1.19 percent.
On Wednesday, the US central bank raised its benchmark interest rate by 25 basis points, in line with expectations, but softened its tone on the need for “continued hikes” in interest rates, using the phrase “some extra (raise)”.
