Dow Ends Day Up 164
S&P 500, Nasdaq also close higher
By Newser Editors and Wire Services
Posted Sep 30, 2016 3:16 PM CDT
In this Monday, Sept. 26, 2016, file photo, trader James Dresch, center, works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks are closing higher on Wall Street, led by big gains in bank stocks, the AP reports. 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%, and major US banks also rose. JPMorgan Chase was up 1.4%. Consumer stocks also did well following a strong earnings report from Costco, which jumped 3.4%. The Dow Jones industrial average rose 164 points, or 0.9%, to 18,308. The Standard & Poor's 500 index gained 17 points, or 0.8%, to 2,168. The Nasdaq composite climbed 42 points, or 0.8%, to 5,312.