US stocks rise following prior session's heavy rout

New York, June 13 (IANS) US stocks ended higher as Wall Street tried to recover from the prior session's steep sell-off.

On Friday, the Dow Jones Industrial Average jumped 477.37 points, or 1.90 per cent, to 25,605.54. The S&P 500 was up 39.21 points, or 1.31 per cent, to 3,041.31. The Nasdaq Composite Index rose 96.08 points, or 1.01 per cent, to 9,588.81, Xinhua news agency reported.

Boeing shares soared more than 11 percent, leading the gainers in the 30-stock average.

Eight of the 11 primary S&P 500 sectors finished higher, with financials and materials up 1.36 per cent and 1.32 per cent, outpacing the rest. Utilities decreased 0.2 per cent, the worst-performing group.

The moves followed a heavy Wall Street rout that saw major averages post their biggest one-day losses since mid-March, as investors were worried about a second wave of virus infections in the United States while digesting a grim forecast for the economy from the Federal Reserve.

The Dow shed more than 1,800 points, or nearly 7 per cent, on Thursday, while the S&P 500 and the Nasdaq tumbled 5.9 per cent and 5.3 per cent, respectively.