Dow rises over 500 points, posts weekly gain

US stocks closed higher on Friday, ending a four-session losing streak as lower oil prices lifted investor sentiment despite growing expectations for tighter monetary policy from the Federal Reserve.

The Dow Jones Industrial Average rose 0.98%, or 509 points, to 52,573, trimming its weekly loss to 1.58%.

The S&P 500 gained 0.86%, or 65 points, to 7,656, while the Nasdaq Composite rose 0.96%, or 251 points, to 26,333. Both indexes declined 0.80% and 0.66%, respectively, over the week.

In Europe, the STOXX Europe 600 rose 0.49% to 639 points, but fell 1.66% for the week. The FTSE 100 gained 0.39% to 10,650, Germany’s DAX rose 0.82% to 25,568, and France’s CAC 40 increased 0.78% to 8,179.

In Japan, the Nikkei 225 fell 1.95% to 64,011, while the broader TOPIX declined 0.65% to 4,028.

Oil futures also fell, with Brent crude for November delivery down 2.81%, or $3.02, at $104.61 a barrel. WTI crude for October delivery declined 2.37%, or $2.43, to $100.05.

December gold futures were little changed at $4,408.90 an ounce.

What’s Behind the Market Moves?

Lower oil prices supported investor sentiment, temporarily offsetting inflation data that boosted expectations for a Federal Reserve rate hike next week.