U.S. stocks closed higher Friday to end the third quarter on a positive note, boosted by a double-digit rally in Deutsche Bank AG shares, which were recovering from brutal losses in the previous session amid heightened concerns about the health of the German lender’s balance sheet.
The S&P 500 index rallied 17.14 points, or 0.8%, to finish at 2,168.27, with most of its sectors trading higher. The financial and energy sectors led all gainers, while utilities, telecom, and real estate finished lower. For the month, the S&P 500 finished 0.1% lower, but gained 3.3% for the quarter.
The Dow Jones Industrial Average gained 164.70 points, or 0.9%, to close at 18,308.15, led by gains in Wal-Mart Stores Inc. and Procter & Gamble Co. For September, the blue-chip average finished 0.8% lower, but was up 2.1% for the third quarter.
The Nasdaq Composite Index climbed 42.85 points, or 0.8%, to close at 5,312.00, for a monthly gain of 1.7%, and a quarterly gain of 9.7%.