NEW YORK (AP) - Stocks rose Friday to wrap up their strongest week in almost three months. Banks gained ground after Federal Reserve Chair Janet Yellen said the central bank intends to keep raising interest rates provided the economy continues to improve.
Stocks turned higher over the last few hours of trading to finish at their highest levels of the day. Banks made the largest gains, as they stand to make bigger profits on lending if interest rates rise further.
The Dow Jones industrial average rose 44.93 points, or 0.3 percent, to 17,783.22. The Standard & Poor's 500 index added 8.96 points, or 0.4 percent, to 2,099.06. The Nasdaq composite index picked up 31.74 points, or 0.6 percent, to 4,933.50.