NEW YORK — A rocky week for the stock market ended on a bright note as investors bought stocks across industries.
Stocks wavered in the morning before climbing steadily during the afternoon amid a mix of earnings results. The market also got a lift as China’s currency steadied after a slump this week that shook financial markets around the world.
The gains were modest but broad, with nine of the 10 sectors of the Standard and Poor’s 500 index ending higher.
The S&P 500 climbed 8.15 points, or 0.4 percent, to 2,091.54. The Dow Jones industrial average rose 69.15 points, or 0.4 percent, to end at 17,477.40. The Nasdaq composite jumped 14.68 points, or 0.3 percent, to 5,048.24.
At the close of stock trading, the dollar was buying 6.391 Chinese yuan, little changed from the previous day. Reassuring comments from a Chinese central bank official Thursday seemed to ease concerns that China’s government would seek to devalue its currency further.
Stocks of retailers rallied after some solid earnings reports.
Nordstrom rose $3.21, or 4.3 percent, $78.13 after beating analysts’ expectations in results announced late Thursday. J.C. Penney rose 45 cents, or 5.6 percent, to $8.52 after a narrower loss on stronger-than-expected sales as the retail chain continues to turn its business around.
Investors are hoping for good news in the current quarter, too. On Thursday, the Commerce Department reported U.S. retail sales climbed last month, suggesting that strong hiring and lower gas prices are encouraging consumers to spend more.
Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute, said investors have been remarkably calm in the face of several potentially unnerving events, including a slowing Chinese economy, Greece’s debt troubles, plunging oil prices and the Federal Reserve possibly raising interest rates next month.
“You’ve got recurrent issues worrying the market, … yet it’s been pretty lethargic,” he said. “It’s been trading at a narrow range despite all the noise.”
The price of U.S oil rose slightly, but still ended the week sharply lower as rising supplies continue to outpace global demand growth. U.S. crude rose 27 cents Friday to close at $42.50.
For the week, it was down 3 percent after hitting a six-year low on Thursday. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 19 cents to close at $49.03 in London.
