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U.S. stocks power higher; GE, Morgan Stanley gain

A trader works on the floor of the

A trader works on the floor of the New York Stock Exchange at the start of the trading day in New York, Oct. 17, 2014. Credit: EPA / Justin Lane

U.S. stock indexes are closing out a wild week with a big gain.

Industrial stocks like Textron and General Electric led the charge higher Friday after reporting strong earnings.

The Dow Jones industrial average jumped 263 points, or 1.6 percent, to 16,380. The Dow was coming off six straight losses and ended the week down 1 percent.

The Standard & Poor's 500 rose 23 points, or 1.3 percent, to 1,886. The Nasdaq rose 41 points, or 1 percent, to 4,258.

The market had huge swings this week including several sharp drops as investors worried about slowing economic growth and plunging oil prices. On Friday European markets recovered, as did the price of oil.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.20 percent.

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