Stocks rose after investors decided that the sell-off earlier in the week may have been overdone. The Federal Reserve on Wednesday gave its most detailed preview yet of how it will wind down its monthly bond purchases. That program has made borrowing cheap and encouraged investors to buy stocks. So when the Fed hinted that it might end next the program by the middle of year, it prompted a two-day drop on the stock market. By Friday, investors were ready to buy again.
The Dow Jones industrial average rose 41.08 points, or 0.3 percent, to close at 14,799.40.
The Standard & Poor's 500 index rose 4.24 points, or 0.3 percent, to 1,592.43.
The Nasdaq composite fell 7.39 points, or 0.2 percent, to 3,357.25.
For the week:
The Dow fell 270.78 points, or 1.8 percent.
The S&P 500 fell 34.30 points, or 2.1 percent.
The Nasdaq fell 66.31 points, or 1.9 percent.
For the year so far:
The Dow is up 1,659.26 points, or 12.9 percent.
The S&P 500 is up 166.24 points, or 11.7 percent.
The Nasdaq is up 337.74 points, or 11.2 percent.